Our pivot point stands at 1.3000.
Our preference: the upside prevails as long as 1.3000 is support.
Alternative scenario: the downside breakout of 1.3000 would call for 1.2962 and 1.2939.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2998 and 1.2974). Finally, the GBP/USD has crossed above its upper Bollinger band (1.3035).
Supports and resistances:
1.3152 **
1.3129 *
1.3106 **
1.3083
1.3037 last
1.3016
1.3000 **
1.2962 *
1.2939 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 11-05-2024 at 19:16 UTC+1
Price reference: 1.3037 last known on 11-05-2024 at 19:16 UTC+1
Investment horizon: INTRADAY
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