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GBPUSD / Key Levels and Price Movement Scenarios
British Pound / U.S. Dollar
Short
GBPUSD / Key Levels and Price Movement Scenarios
By SroshMayi
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Updated
Jul 29
3
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Jul 26
GBP/USD Analysis: Bearish and Bullish Scenarios with Key Levels and Expected Price Movement
The price is expected to trade in a bearish zone due to its stabilization below the pivot line at 1.28770, with an initial target of 1.28190.
Bearish Scenario: As long as the price remains below 1.28770, it is likely to drop to 1.28190, and further declines could gradually lead to 1.26970.
Bullish Scenario: For an uptrend to be confirmed, the price must close a 4-hour candle above 1.28770, potentially rising to 1.2956.
Key Levels:
- Pivot Price: 1.2877
- Resistance Levels: 1.2956, 1.3037, 1.3100
- Support Levels: 1.2819, 1.2750, 1.2697
The price movement is anticipated to oscillate between the resistance at 1.2956 and the support at 1.2770.
Jul 29
Comment
the price dropped about 60 pip and still running to get the support line we mentioned which is 1.2750 and 1.2697 especially if stabilized under 1.2819
GBP
GBPUSD
Supply and Demand
Support and Resistance
Trend Analysis
USD
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