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- GBP/USD is trading near a monthly high
GBP/USD is trading near a monthly high
Today, the GBP/USD pair is mainly growing in the range of 1.2730-85 and is trading near the monthly high of 1.2810 reached on Friday. On the hourly chart, the pair rose slightly above the moving average line MA (200) H1 (1.2695) and on the four-hour chart it is testing MA (200) H4 (1.2785). Technically speaking, the resistance of 1.2815 may keep GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.2925. The lower bound of 1.2615 represents a strong support level. The most likely range of movement of the pair for today may be hidden within the existing range of 1.2615-1.2810.
⦁ Resistance levels are: 1.2810, 1.2925, 1.3010
⦁ Support levels are: 1.2715, 1.2615, 1.2570
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.2810 (Dec 6 high) and there may be an increase to 1.2925 (Nov 11 high)
An alternative scenario implies a breakout of the session low of 1.2715 and may be a decrease to 1.2615 (Dec 2 low)
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