Technical Analysis

GBP/USD supported by moving averages
Mon, 19 Aug 2019 10:49:22 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs70%72%-3.8%
Shorts30%28%8.7%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuySell
Aggregate

At the end of the previous trading week, the GBP/USD exchange rate tried to surpass the psychological level at 1.2160. During Monday's morning, the rate declined to the support level formed by the 55-hour SMA and the weekly PP at 1.2114.

Note, that the currency pair is also supported by the 100– and 200-hour SMAs, currently located circa 1.2100. Thus, if the given support holds, is likely, that a reversal north could occur, and the pair could re-test the given psychological level.

Otherwise, it is likely, that the British Pound could depreciate against the US Dollar, and the rate could decline to the psychological level at the 1.2080 mark.


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