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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 growing from 1.2940 to 1.3000 and is testing the strength of the MA (200) H1 (1.2975) moving average line on the hourly chart. The pair remains within yesterday's wide range of 1.2935-1.3045. On the four-hour chart, the pair remains below MA (200) H4 (1.3135). Technically speaking, the resistance of 1.3145 has so far kept GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.3070. The lower bound of 1.2905 represents a strong support level.
⦁ Resistance levels are: 1.3045, 1.3070, 1.3105-15
⦁ Support levels are: 1.2935, 1.2905, 1.2800
The main scenario for the pair's promotion assumes a breakout of support at 1.2935 (Oct 30 low) and there may be a decrease to 1.2905 (Oct 23-24 low)
An alternative scenario implies a breakout of the resistance at 1.3045 (Oct 30 high), an increase to 1.3070 (Oct 18 high) and then, maybe, 1.3105-15 (Oct 8 and 15 high).
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