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GBPUSD 4H : Try to rise up

GBPUSD

New forecast

The British pound against the dollar pair failed to breach the support level at 1.2508 and rose yesterday and breaching the resistance level at the 1.2604 level and closing the daily candle above it, stopping the negative scenario and heading towards resuming the upward corrective trend, on its way to testing the 1.2727 level initially and stability above it will open the way forward. The price reaches 1.2788 and 1.2880.

Therefore, the upward bias will be likely for today, supported by a move above the moving average 50, keeping in mind that breaking 1.2604 will put pressure on the price to decline again.

The expect range trading for today it will be between the resistance line 1.2727 and support line 1.2604.

Additionally ,Today News will affect on the market .

resistance line : 1.2727 , 1.2788
support line : 1.2604 , 1.2508

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