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- GBP / USD is testing the strength of the MA (200) H1
GBP / USD is testing the strength of the MA (200) H1
Today, the GBP / USD pair is trading in the range of 1.2835-65, having climbed from the almost 3-week low of 1.2760 on Friday. On the hourly chart, GBP / USD is testing the strength of the MA (200) H1(1.2880) moving average line and on the four-hour chart, the MA (200) H4(1.2820). Technically speaking, the resistance at 1.2890 could keep prices from rising further. Should it be broken, GBP / USD could rise towards 1.2995. The lower boundary of 1.2750 represents a support level.
⦁ Resistance levels are: 1.2890, 1.2995, 1.3130-40
⦁ Support levels are: 1.2835, 1.2750-60, 1.2660
The main scenario of the pair's advance implies a break of the resistance at 1.2890 (July 28 high) and there could be a rise to 1.2995 (July 27 high).
The alternative scenario implies a breakout of the session low of 1.2835 and there could be a decline to 1.2750-60 (July 10 and 28 lows).
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