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- GBP/USD can test the strength of MA (200) H1
GBP/USD can test the strength of MA (200) H1
Today, the GBP/USD pair is mainly growing in the range of 1.1.2870-1.2940 after falling yesterday to a mid-August low of 1.2835. On the hourly chart, the pair can test the strength of the moving average line MA (200) H1 (1.2955) and on the four-hour chart it remains below MA (200) H4 (1.3090). Technically speaking, the support of 1.2835 has so far kept GBP/USD from further decline. If this level is passed, then GBP/USD may fall to 1.2800. The upper limit of 1.3050 represents a strong resistance level.
⦁ Resistance levels are: 1.2955, 1.3050, 1.3080
⦁ Support levels are: 1.2835, 1.2800, 1.2725
The main scenario for the pair's promotion assumes a decrease to 1.2835 (Nov 6 low) and then, maybe, to 1.2800 (Aug 15 low)
An alternative scenario implies a breakout of MA (200) H1 (1.2955) and then, maybe, to 1.3050 (Nov 6 high)
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