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- GBP/USD is trading near a 3-week low
GBP/USD is trading near a 3-week low
Today, the GBP/USD pair is trading in a wide range of 1.2560-1.2670 and remains near the 3-week low reached yesterday. On the hourly chart, the pair fell below the MA (200) H1 (1.2700) moving average line. The situation is similar on the four-hour chart. Technically speaking, the resistance of 1.2670 is still keeping GBP/USD from further growth. If this level is passed, the pair may rise to 1.2730. The lower bound of 1.2560 represents a strong support level.
⦁ Resistance levels are: 1.2670, 1.2730, 1.2810
⦁ Support levels are: 1.2560, 1.2485, 1.2445
The main scenario for the pair's promotion assumes a breakout of support at 1.2560 (Dec 18 low, session minimum) and there may be a decrease to 1.2485 (Nov 22 low)
An alternative scenario implies a breakout of the session high of 1.2670 and may be an increase to 1.2730 (Dec 17 high)
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