GBP/USD: a recovery is on the way

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

Positions Today Yesterday % Change
Longs 54% 57% -5.56%
Shorts 46% 43% 6.52%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The British currency traded flat against the US Dollar on Friday, due to the absence of market movers. Upside volatility was somewhat limited by the 200-hour SMA, but it is unlikely to prevent the Pound from appreciating further, as the pair is trading within the borders of an ascending channel pattern. Although the channel is not fully confirmed yet, the exchange rate is still expected to rebound within the next two days. Technical indicators are mostly in favour of the given scenario, even though today's signals are bearish. A successful surge towards the channel's upper border, however, could only be achieved if the 1.28 major level is retaken this week—a goal the Cable failed to achieve for quite some time now.

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