GBP/USD intraday: the upside prevails as long as 1.2927 is support

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1675392886756
GBPUSD+0%
2024-11-01 18:13Source:TC

Our pivot point is at 1.2927.

Our preference: the upside prevails as long as 1.2927 is support.

Alternative scenario: below 1.2927, expect 1.2888 and 1.2864.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2927 and 1.2903).

Supports and resistances:

1.3080 **

1.3057 *

1.3034 **

1.3011

1.2961 last

1.2942

1.2927 **

1.2888 *

1.2864 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 11-01-2024 at 18:13 UTC+1

Price reference: 1.2961 last known on 11-01-2024 at 18:13 UTC+1

Investment horizon: INTRADAY

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