GBP/USD could go downwards - Technical Analysis - Dukascopy Bank

Mon, 18 Jan 2021 10:19:36 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs35%32%10.3%
Shorts65%68%-5.6%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The GBP/USD exchange rate bounced off the resistance level at 1.3700 and dropped below 1.3550.

It is likely that some downside potential could prevail in the market, and the currency pair could test the weekly S1 at 1.3457. If the given support holds, the pair could reverse north.

In the meantime, it is unlikely that some upside potential could prevail in the market in the short term due to the resistance area formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3584/1.3636 range.


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