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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is mainly declining from 1.2695 to 1.2640 and is testing the MA (200) H1 (1.2685) moving average line on the hourly chart. The situation is similar on the four-hour chart. The pair is aiming for a monthly low of 1.2620, reached earlier last week. Technically speaking, the support of 1.2620 may keep the pair from further decline. If this level is passed, then GBP/USD may fall to 1.2580. The upper limit of 1.2740 represents a strong resistance level.
⦁ Resistance levels are: 1.2705, 1.2740, 1.2815
⦁ Support levels are: 1.2620, 1.2580, 1.2500
The main scenario for the pair's promotion assumes a breakout of support at 1.2620 (June 21 low) and there may be a decrease to 1.2580 (May 15 low)
An alternative scenario implies a breakout of the resistance of 1.2705 (June 25 high) and there may be an increase to 1.2740 (June 19 high)
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