GBP/USD tests 100– and 200-hour SMAs

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs48%46%4.5%
Shorts52%54%-4.2%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)BuySellSell
Aggregate

Yesterday, the GBP/USD exchange rate raised to the weekly S1 at 1.3053. During Wednesday morning, the rate was testing the given resistance.

Note that the currency pair is pressured by the 100– and 200-hour SMAs. Thus, some downside potential could prevail in the market. In this case the pair could re-test the 1.2950 level.

On the other hand, the exchange rate could gain support of the 55-hour SMA and surpass the given resistance. In this case it is unlikely that the rate could surpass the 1.3140 area due to the resistance formed by the weekly and monthly PPs.

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