| Positions | Today | Yesterday | % Change | |
| Longs | 42% | 43% | -2.38% | |
| Shorts | 58% | 57% | 1.72% | |
| Indicator | 4H | 1D | 1W | |
| MACD (12; 26; 9) | Buy | Buy | Buy | |
| RSI (14) | Sell | Sell | Sell | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| Alligator (13; 8; 5) | Buy | Buy | Buy | |
| SAR (0.02; 0.2) | Buy | Buy | Buy | |
| Aggregate | ⇒ | ⇒ | ⇒ | |
The Pound remained relatively stable against the US Dollar yesterday. The pair edged lower during the first part of the day; however, the strong support of the bottom channel line and the 55-hour SMA circa 1.3930 stopped any attempts to edge lower. Subsequently, bulls took the upper hand and sent the Pound for a test of the most junior channel near 1.4035.
Meanwhile, converging technical indicators suggest that the bullish sentiment might be exhausted, thus allowing for a correction south within the following trading hours. This scenario would return the rate back in the senior channel towards the weekly R1 and the 55– and 100-hour SMAs near 1.9350.
In case the weekly R2 is breached, this high level is not expected to hold for long, as the Sterling should eventually be forced lower.