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- GBP/USD is trading near a 6-month low
GBP/USD is trading near a 6-month low
Today, the GBP/ USD pair is mainly declining from 1.2690 to 1.2615, having lost all the positions gained yesterday. The pair remains near the 6-month low of 1.2600 reached last week. On the hourly chart, the pair fell below the moving average MA (200) H1 (1.2770) and on the four-hour chart below MA (200) H4 (1.2950). Technically speaking, the 1.2600 support has so far kept GBP/USD from further decline. If this level is passed, then GBP/USD may fall to 1.2510. The upper limit of 1.2770 represents a strong resistance level.
⦁ Resistance levels are: 1.2720, 1.2770, 1.2875
⦁ Support levels are: 1.2600, 1.2510, 1.2445
The main scenario for the pair's promotion assumes a breakout of the support 1.2600 (Nov 15 low) and may be a decrease to 1.2510 (May 14 low)
An alternative scenario implies a breakout of the resistance of 1.2720 (Nov 14 high) and there may be an increase to 1.2770 (Nov 13 high, МА (200) Н1)
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