GBP/USD: decrease in sight

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

Positions Today Yesterday % Change
Longs 56% 58% -3.57%
Shorts 44% 42% 4.55%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Thursday's trading session was characterized by strong upside momentum that was stopped by the monthly R1 near the 1.3036 mark. The given direction reveals the formation of a minor ascending channel that would suggest a fall down to the 55-hour SMA or the monthly PP at 1.2938 and 1.2903, accordingly. Even though technical indicators remain bullish, trend indicators demonstrate that the given up-trend is decreasing in strength, thus confirming a possible move south in this session. On Monday morning, however, the rate may return near the 1.3000 if the channel-up boundaries are respected. By and large, the rate is expected to trade in the 1.3036/1.2903 area. Being so close to the upper channel boundary means that positive UK Current Account data may breach the upper limit for a while.

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