Our pivot point is at 1.3157.
Our preference: the downside prevails as long as 1.3157 is resistance.
Alternative scenario: above 1.3157, look for 1.3188 and 1.3207.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3169 and 1.3173). Finally, the GBP/USD has penetrated its lower Bollinger band (1.3130).
Supports and resistances:
1.3207 **
1.3188 *
1.3157 **
1.3145
1.3118 last
1.3074
1.3055 **
1.3036 *
1.3018 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 09-06-2024 at 18:34 UTC+1
Price reference: 1.3118 last known on 09-06-2024 at 18:34 UTC+1
Investment horizon: INTRADAY
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