GBP/USD squeezed by 55– and 100-hour SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs37%41%-13.5%
Shorts63%59%7.8%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

Yesterday, the GBP/USD exchange rate tested the monthly R1 at 1.2615. During Thursday morning, the rate declined to 1.2500.

It is likely that the currency pair could gain support from the 100-hour SMA near 1.2485 and trade upwards in the short term. In this case the pair could re-test the monthly R1.

Meanwhile, note that the exchange rate could remain under pressure of the 55-hour SMA and the weekly R2 in the 1.2550 area. If the given resistance holds, it is likely that the rate could consolidate.

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