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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is trading in the range of $1.1020-1.1120 - about a weekly low. On the hourly chart, the pair is testing the MA (200) H1 moving average line ($1.1150) and on the four-hour chart it has fallen below MA (200) H4 ($1.1380). Technically speaking, the support of $1.0760 can keep prices from further decline. The upper limit of $1.1495 represents the resistance level.
⦁ Resistance levels are: $1.1225, $1.1380, $1.1495
⦁ Support levels are: $1.0760, $1.0540, $1.0360
The main scenario assumes a continuation of the downward movement to $1.0760 (September 29 low)
The alternative scenario assumes a breakout of MA (200) H1 ($1.1150) and resistance of $1.1225 (October 7 high) followed by an increase to $1.1380 (October 6 high)
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