GBP/USD pressured by 100-hour SMA

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs49%50%-2.6%
Shorts51%50%2.5%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

Yesterday, the GBP/USD exchange rate traded sideways in the 1.288/1.2940 range. During Tuesday morning, the rate was testing the 100-hour SMA at 1.2943.

If the given resistance holds, it is likely that a reversal south could occur in the nearest future, and the currency pair could re-test the 1.2880 level.

However, note that the rate could gain support of the 55-hour SMA, as well the Fibo 38.20% at 1.2918. In this case, the pair could reach the weekly PP at 1.2986.

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