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- GBP/USD remains under pressure
GBP/USD remains under pressure
On the hourly chart, the GBP/USD pair remains under pressure after a sharp downward impulse, which led to the breakdown of several support levels and consolidation below the MA (200) H1 moving average. After reaching a low around 1.3415, there is an attempt at a local upward correction, but growth is limited to the level of 1.3480, which now acts as the nearest resistance. The MACD indicator forms a bullish divergence and shows an upward reversal, which indicates the possibility of a short-term recovery. Nevertheless, the overall direction remains bearish, and as long as the price remains below 1.3520, selling pressure remains.
Resistance levels are: 1.3480, 1.3520, 1.3580
Support levels are: 1.3415, 1.3380, 1.3335
The main scenario for the pair's advance suggests a breakout of support at 1.3415 (May 29 and June 17 low) and a possible decline at 1.3380 (May 21-22 low)
An alternative scenario implies a breakout of the session high of 1.3480 and there may be an increase to 1.3520 (June 13 low).
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