GBP/USD might decline - Technical Analysis - Dukascopy Bank

Tue, 08 Dec 2020 10:38:12 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs31%32%-2.3%
Shorts69%68%1.0%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

Yesterday, the GBP/USD exchange rate dropped to the 1.3250 level and reversed north.

It is likely that some downside potential could prevail in the market as the currency pair is pressured by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3380/1.3425 range.



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