GBP/USD allays after surge

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 48% 45% 6.25%
Shorts 52% 55% -5.77%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The combined resistance of the 55-hour SMA and the monthly S1 restricted the Pound from moving above 1.3050 early on Friday. 

The necessary bullish sentiment was provided during the second part of the day caused by comments from the President Donald Trump on the strong US Dollar. This allowed the pair to surge 1.10%, being stopped solely early on Monday when it hit the 200-hour and 55-period (4H) SMAs at 1.3155. 

The pair being unable to move past this cluster might point either to a decline or a movement sideways in this session. Technical indicators being located in the overbought territory support the bearish scenario. 

In case of a fall, the Sterling would be sent back to the 55– and 100-hour SMAs at 1.3050. The monthly S1 is likewise located nearby.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.