GBP/USD struggles to bypass 200-hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 56% 55% 1.79%
Shorts 44% 45% -2.27%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Sell Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

As it was expected, a combined resistance barrier formed by the weekly PP and the 38.2% Fibonacci retracement level managed to constrain the cable near the 1.3150 level.  

Unless the Pound receives a proper impulse from some fundamental even, there is a little chance that it will manage to bypass the 200-hour SMA. But even in the best-case scenario the pair is unlikely to break above another resistance area this time protected by the 50% Fibonacci retracement level at 1.3180. 

If the Sterling starts to depreciate the initial fall is expected to be stopped by the 55- and 100-hour SMAs. However, once the pair manages to bypass them, the plunge might continue up until the 1.3100 mark located near the 23.6% retracement level.

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