Technical Analysis

GBP/USD tests 100-hour SMA
Tue, 17 Sep 2019 09:17:08 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs45%44%1.8%
Shorts55%56%-1.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

During Monday, the GBP/USD exchange rate depreciated slightly against the US Dollar. During today's morning, the rate was testing the support provided by the 100-hour SMA at 1.2393.

If the given moving average holds, it is likely that the currency pair could extend gains in the short term. However, note that the pair has to surpass the 55-hour SMA and the monthly R2, located at 1.2438 and 1.2459 respectively.

If the given moving average does not hold, it is likely that the British Pound could continue to decline against the Greenback. Note that the rate could get support of the 200-hour moving average at 1.2357.


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