Today, the GBP/USD pair is trading in the range of $1.2125-70 and on the hourly chart, the pair is testing the MA (200) H1 moving average line ($1.2150). On the four-hour chart, the pair remains above MA (200) H4 ($1.2075). Technically speaking, the support of $1.2060 can keep prices from further decline. The upper limit of $1.2290 represents the resistance level.
⦁ Resistance levels are: $1.2210, $1.2290, $1.2330
⦁ Support levels are: $1.2065, $1.1960, $1.1890
The main scenario for the pair's promotion is a breakout of the resistance of $1.2210 (August 3-4 high) and there may be an increase to $1.2290 (August 1 high)
An alternative scenario is a breakout of the support of $1.2060 (July 29 and August 4 low) and there may be a decrease of $1.1960 (July 26 low)
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