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- GBP/USD is trading near a 2-week low
GBP/USD is trading near a 2-week low
Today, the GBP/USD pair is mainly declining from 1.2680 to 1.2620, reaching a 2-week low. On the hourly chart, the pair dropped slightly below the moving average line MA (200) H1 (1.2725) and on the four-hour chart below MA (200) H4 (1.2760). Technically speaking, the support of 1.2620 keeps GBP/USD from further decline for now. If this level is passed, then GBP/USD may fall to 1.2570. The upper limit of 1.2810 represents a strong resistance level.
⦁ Resistance levels are: 1.2725, 1.2810, 1.2925
⦁ Support levels are: 1.2620, 1.2570, 1.2485
The main scenario for the pair's promotion assumes a breakout of the session low of 1.2620 (Dec 2 low) and may be a decrease to 1.2570 (Nov 27 low)
An alternative scenario implies a breakout of MA (200) H1 (1.2725) and there may be an increase to 1.2810 (Dec 6 high)
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