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- GBP/USD is trading near a 2-week high
GBP/USD is trading near a 2-week high
Today, the GBP/USD pair is trading in the range of 1.2680-1.2740 - near the 2-week high of 1.2750 reached on Friday. On the hourly chart, the pair remains slightly above the moving average line MA (200) H1 (1.2625), but on the four-hour chart it is trading below MA (200) H4 (1.2825). Technically speaking, the resistance of 1.2770 may keep GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.2880. The lower bound of 1.2485 represents a strong support level. The most likely range of movement of the pair for today may be hidden within the existing range of 1.2625-1.2770.
⦁ Resistance levels are: 1.2750-70, 1.2880, 1.3010
⦁ Support levels are: 1.2625-45, 1.2485, 1.2445
The main scenario for the pair's promotion assumes a breakthrough of 1.2625-45 (Nov 28 low, MA (200) H1) and there may be a decrease to 1.2485 (Nov 22 low)
An alternative scenario implies a breakout of the resistance of 1.2750-70 (Nov 13 and 29 high) and there may be an increase to 1.2880 (Nov 12 high)
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