GBP/USD squeezed by moving averages

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs67%71%-6.0%
Shorts33%29%12.4%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuySell
Aggregate

During the previous trading session, the GBP/USD exchange rate traded sideways around the psychological level at 1.2130. During today's morning, the rate continued to trade at the given level.

Note, that the currency pair is supported by the 200-hour moving average and the weekly PP at 1.2114. Thus, it is unlikely, that some downside potential could prevail in the market. However, if the given support does not hold, the rate could go downside.

It is likely, that the pair could trade sideways between the given support, as well the resistance level formed by the 55– and 100-hour SMAs, currently located at 1.2139.

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