GBP/USD could trade sideways

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%64%13.7%
Shorts26%36%-39.8%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

During the previous trading session, the GBP/USD exchange rate traded sideways around the 1.2580 level. No significant changes were observed during today's morning.

Note, that the currency pair is pressured by the 55-hour SMA, currently located at the 1.2594 mark. Thus, it is likely, that some downside potential could prevail in the market, and the pair could decline to the support level—the monthly S1 a 1.2545.

On the other hand, the rate could continue to trade sideways in the nearest future within the cluster formed by the psychological level at 1.2560 and the weekly S2 at 1.2594.

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.