Positions | Today | Yesterday | Change |
---|---|---|---|
Longs | 38% | 38% | 0.2% |
Shorts | 62% | 62% | -0.1% |
Indicator | 4H | 1D | 1W |
MACD(12;26;9) | Sell | Buy | Buy |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Neutral | Neutral | Sell |
Alligator(13;8;5) | Neutral | Buy | Buy |
SAR(0.02;0.2) | Buy | Sell | Buy |
Aggregate | ⇒ | ⇒ | ⇗ |
Yesterday, the GBP/USD exchange rate skyrocketed to the resistance level formed by the 200-hour SMA at 1.2877. During Tuesday morning, the rate was testing the support formed by the 55– and 100-hour SMAs, as well the weekly PP at 1.2832.
If the given support level holds, it is likely that the currency pair could re-test the given resistance level within the following trading session. Also, it is unlikely that bulls could prevail, and the rate could exceed the 1.2895 mark due to the weekly R1.
However, if the given support does not hold, it is likely that the British Pound could depreciate against the US Dollar in the short term. In this case, the exchange rate could target the 1.2780/1.2800 area.