GBP/USD revealed falling wedge pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs68%61%10.8%
Shorts32%39%-23.0%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate

The GBP/USD exchange rate has revealed a falling wedge pattern. During Thursday morning, the rate reversed north from the lower pattern line at 1.2190.

From a theoretical point of view, it is likely that the currency pair could continue to trade downwards within the given pattern in the short run. Note that the pair could gain support from the Fibo 38.20% and the weekly S2 in the 1.2166/1.2190 range.

If the given support area holds, it is likely that the British Pound could consolidate against the US Dollar within the following trading session.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.