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- GBP/USD dropped to a 6.5-month low
GBP/USD dropped to a 6.5-month low
Today, the GBP/USD pair is mainly declining from 1.2595 to 1.2485, reaching a 6.5-month low. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.2670) and on the four-hour chart below MA (200) H4 (1.2910). Technically speaking, the support of 1.2485 has so far kept GBP/USD from further decline. If this level is passed, then GBP/USD may fall to 1.2445. The upper limit of 1.2720 represents a strong resistance level.
⦁ Resistance levels are: 1.2660, 1.2720, 1.2770
⦁ Support levels are: 1.2485, 1.2445, 1.2420
The main scenario for the pair's promotion assumes a breakout of the session low of 1.2485 and may be a decrease to 1.2445 (May 9 low)
An alternative scenario implies an increase to 1.2660 (Nov 21 high) and then, maybe, to 1.2720 (Nov 14 and 20 high)
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