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- GBP/USD dropped to a 20-day low
GBP/USD dropped to a 20-day low
Today, the GBP/USD pair is declining from 1.3270 to 1.3095, reaching a 20-day low. The pair broke through the 1.3240 support, which became the nearest resistance. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.3340) and on the four-hour chart it is testing MA (200) H4 (1.3190). Technically speaking, the 1.3000 support can keep GBP/USD from further decline. If this level is passed, then GBP/USD may fall to 1.2940. The upper limit of 1.3305 represents a strong resistance level.
⦁ Resistance levels are: 1.3240, 1.3305, 1.3435
⦁ Support levels are: 1.3000, 1.2940, 1.2800
The main scenario for the pair's promotion assumes a breakout of the support 1.3000 (Sept 11 low) and may be a decrease to 1.2940 (Aug 19 low)
The alternative scenario implies an increase to 1.3240 (Oct 1 low) and then, maybe, to 1.3305 (Oct 2 high)
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