GBP/USD bulls likely to prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs39%39%0.2%
Shorts61%61%-0.1%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuySell
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.

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.