GBP/USD tested Fibonacci 23.60% retracement

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs40%40%0.0%
Shorts60%60%0.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellSellNeutral
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuyBuy
Aggregate⇗⇗⇘
[ANNOUNCE]

On Thursday, the GBP/USD exchange rate reached the 1.2560 level. During today's morning, the rate reversed south from the Fibonacci 23.60% retracement at 1.2573.

[/ANNOUNCE]

It is likely that the currency pair could continue to go downside in the nearest future. However, note that the pair could get support of the 55– and 100-hour SMAs, as well the monthly R2 in the 1.2459/1.2474 range.

If the given support level holds, it is likely that the rate could reverse north to re-test the given Fibonacci level. Otherwise, the pair could decline to the support level formed by the 200-hour SMA and the weekly PP at 1.2416

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