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GBP/USD could target 1.4220

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs26%28%-7.7%
Shorts74%72%2.7%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇒

[ANNOUNCE]During the first half of Tuesday's trading session, the GBP/USD currency pair declined by 58 pips or 0.41%. The exchange rate rebounded from the lower boundary of an ascending channel pattern at the end of the day.[/ANNOUNCE]

By and large, the British Pound could continue to trend higher during the following trading session. A breakout through the upper line of the channel pattern could occur.

However, if the ascending channel holds, bearish traders could pressure the currency exchange rate lower in this session.

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09 Jun 2021

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