GBP/USD edges higher prior to data releases

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

Positions Today Yesterday % Change
Longs 53% 42% 20.75%
Shorts 47% 58% -23.40%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Sell
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Despite strong signals of reversal, the Sterling managed to maintain its high position against the US Dollar on Thursday, as it was trading slightly below the 1.43 mark —its 1,5-year high—during most of the session.  

This still movement was disrupted by Trump's comments on stronger US Dollar which sent the pair for a 117-pip hourly plunge. This fall was supported by the 55-hour SMA which allowed for a subsequent appreciation towards 1.4250. As apparent on the chart, the previously-drawn ascending channel still holds; however, its steep positioning points to a soon breakout south. 

By and large, this session should offer high volatility due to important data releases from both the UK and the US. A strong support should be provided by the 200-hour SMA, the 38.2% Fibo and the weekly R1 circa 1.3960.

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