GBP/USD returns to 1.2926

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 67% 68% -1.49%
Shorts 33% 32% 3.03%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Yesterday the given pair moved quite similarly to the Euro and gold. The first half of the day it spent in a surge but, after reaching certain point, changed a direction and started to decline until the 55-hour SMA. Of course the main reason behind the plunge was a release of the satisfying US macroeconomic data. 

Today, the Pound faces the same dilemma as the bullion. On the one hand, it might try once again to break through a combination of the weekly R1 and the monthly S1. However, an easier path would be to continue the downfall towards the 100-hour SMA. 

It seems that yesterday the pair made a rebound from an upper trend-line of a new medium-term ascending channel. If this is true, then the further plunge seems even rational. 

But there is also a need to take into account an effect from another release of the US data today.

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