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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 1.2420-65 and is testing the MA (200) H1 (1.2430) moving average line on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 (1.2610). Technically speaking, the 1.2500 resistance level can keep prices from possibly rising. If it breaks through, the pair may rise to 1.2580. The lower bound of 1.2300 represents a strong support level.
⦁ Resistance levels are: 1.2500, 1.2580, 1.2610
⦁ Support levels are: 1.2405, 1.2300, 1.2260
The main scenario for the pair's promotion assumes a breakout of support at 1.2405 (April 16 low) and may be a decline to 1.2300 (April 22 low)
An alternative scenario implies a breakout of the resistance of 1.2500 (April 15 high) and there may be an increase to 1.2580 (April 11 high)
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