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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the hourly chart of the GBP/USD currency pair shows a flat movement in the range between the levels of 1.2915-70. The price tested the upper limit several times, but failed to gain a foothold higher. The 200-period moving average (SMA) runs almost through the center of the range, indicating an uncertain direction. The nearest support is located at 1.2915, the breakdown of which may lead to a decline to the area of 1.2870. The resistance at 1.2970 remains the key level for a possible upward exit. The MACD indicator shows weak activity, which confirms the absence of a pronounced trend. In general, the pair is in a sideways movement, and the further direction depends on the breakdown of key levels.
Resistance levels are: 1.2970-90, 1.3015, 1.3050
Support levels are: 1.2915, 1.2860-70, 1.2770
The main scenario for the pair's advance suggests a breakout of the area 1.2970-90 (March 27 high, session maximum) and there may be an increase of 1.3015 (March 20 high)
An alternative scenario implies a breakout of the session low of 1.2915 and there may be a decline to 1.2860-70 (March 10 and 26-27 lows)
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