GBP/USD waits for UK data

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 64% 66% -3.13%
Shorts 36% 34% 5.56%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The first half of the previous trading day the currency pair, indeed, spent in a limbo between two combined support and resistance barriers.  

However, a sharp appreciation of the buck by 37 basis points dragged the pair down right in the middle of a short-term symmetrical triangle. It seems that this pattern formed in anticipation of a release of the UK Services PMI. 

Even though the plunge towards the 200-hour SMAs seems a more reasonable scenario from a technical perspective, everything will depend on content of the report that will be published by Markit at 8:30 GMT.

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