GBP/USD trades in a limbo

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 67% 67% 0.00%
Shorts 33% 33% 0.00%
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) Sell Buy Buy
Aggregate

In line with expectations, yesterday the exchange rate continued to move towards the 100-hour SMA amid a pressure from a combination of the weekly R1 and the monthly S1 as well as from release of the US macroeconomic data. At the moment, the pair is remaining in a limbo between these support and resistance levels. 

Most probably, the Pound will continue to try to sneak to the top, using a silent day for its counterpart. On the other hand, the further fall towards the 1.28 mark seems a more reasonable path, as it contains a lot of free space until the 200-hour SMA near 1.2872. 

Nevertheless, a summary of technical indicators vote in favour of the surge, sending a strong buy signal.

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.