Positions | Today | Yesterday | % Change | |
Longs | 45% | 43% | 4.44% | |
Shorts | 55% | 57% | -3.64% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Buy | Buy | |
RSI (14) | Neutral | Neutral | Sell | |
Stochastic (5; 3; 3) | Neutral | Neutral | Sell | |
Alligator (13; 8; 5) | Sell | Neutral | Buy | |
SAR (0.02; 0.2) | Sell | Sell | Buy | |
Aggregate | ⇘ | ⇒ | ⇒ |
Friday's morning session was spent relatively calm for GBP/USD, as it was restricted from both sides by the 55– and 100-hour SMAs.
The bearish sentiment, reinforced by sluggish UK fundamentals, eventually took over the market, thus resulting in a 153-pip plunge in a couple of hours. This fall halted near the February low of 1.38. The pair's subsequent movement was tended north towards a resistance cluster formed by the 55– and 100-hour SMAs and the weekly PP circa 1.39.
This trading session should be quiet in terms of fundamentals; thus, the Sterling might lack the necessary bullish momentum to move past its nearest resistance. A successful breakout should be stopped near the monthly PP at 1.40.
Meanwhile, a potential southern barrier could be the weekly and monthly S1s at 1.3675.