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- GBP/USD remains slightly above MA (200) H1
GBP/USD remains slightly above MA (200) H1
Today, the GBP/USD pair is trading in the range of 1.2645-85 - slightly retreating from the 6.5-month low of 1.2485 reached earlier at the end of last week. On the hourly chart, the pair is testing the moving average line MA (200) H1 (1.2615), but on the four-hour chart it remains below MA (200) H4 (1.2850). Technically speaking, the resistance of 1.2720 may keep GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.2770. The lower bound of 1.2485 represents a strong support level.
⦁ Resistance levels are: 1.2720, 1.2770, 1.2920
⦁ Support levels are: 1.2615, 1.2485, 1.2445
The main scenario for the pair's promotion assumes a breakout of MA (200) H1 (1.2615) and may be a decrease to 1.2485 (Nov 22 low)
An alternative scenario implies a breakout of the resistance of 1.2720 (Nov 14 and 20 high) and there may be an increase to 1.2770 (Nov 13 high)
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