GBP/USD will trade to 1.2980 level

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 35% 28% 20.00%
Shorts 65% 72% -10.77%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Buy Sell
Alligator (13; 8; 5) Sell Buy Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

During Monday's trading session, the currency exchange rate was resisted by the 55-hour simple moving average to push the rate to trade downside. On Tuesday morning, the British Pound was located at the 1.3041 mark.  

It is expected that the rate will keep moving downwards to pass the support level of the weekly S1 at 1.3014 to end the trading session at the 1.2980 level. However, the weekly S1 at 1.3014 could support the British Pound to appreciate against the US Dollar to push the rate to trade sideways during the day.  

Note, the chart was fully reviewed to make some changes to the patterns!

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