GBP/USD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Wed, 28 Apr 2021 05:16:44 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
39%
39%
0.2%
Shorts
61%
61%
-0.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇒
On April 27, the Pound Sterling surged by 56 pips or 0.40% against the US Dollar. The currency pair tested the upper line of a descending channel pattern at 1.3920 during Tuesday's trading session.
As for the near future, the exchange rate could continue to edge higher. A breakout through the upper boundary of the channel pattern could occur within this session.
However, given that the currency exchange rate is currently trading below the 55-, 100– and 200– hour SMAs, bearish traders are likely to pressure the price lower today.
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