Pound loses 0.9% against Greenback

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 57% 57% 0.00%
Shorts 43% 43% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

In line with expectations, an announcement of the UK Official Bank Rate and the following Governor Carney's press-conference have heavily affected value of the given currency pair. Namely, the 94-pip depreciation of the Pound has pushed the rate out of a weekly ascending channel. The fall continued until the pair found support in the face of the 200-hour SMA near 1.3130. Shortly after that the Sterling tried to restore some of the lost positions, but failed to climb above the 1.3144 level. Today it is expected to continue to climb to the top. However, even if succeeds to overcome the above resistance, the surge should be limited by a combination of the 55- and 100-hour SMAs as well as the weekly R1. If it fails, the slide most likely will be stopped by the weekly or monthly PP near 1.3090.

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.