GBP/USD dropped to 1.2940

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs46%50%-7.0%
Shorts54%50%6.1%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuyBuySell
Aggregate

Yesterday, the GBP/USD exchange rate reversed south from the upper boundary of the medium-term descending channel at 1.3020. During Wednesday morning, the rate dropped to 1.2940.

From the one hand, the currency pair could gain support from the 100-hour SMA neat 1.2940 and reverse north. In this case the pair could re-test the upper channel line.

From the other hand, the exchange rate could be pressured by the 55– and 200-hour SMAs to the 1.2880 level. However, note that the rate would have to surpass the Fibo 38.20% at 1.2918.

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