GBP/USD intraday: below its lower Bollinger band

Limited Decrease
l
1675392886756
GBPUSD+0%
2024-11-08 16:40Source:TC

Our pivot point stands at 1.2972.

Our preference: the downside prevails as long as 1.2972 is resistance.

Alternative scenario: above 1.2972, look for 1.3010 and 1.3033.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2956 and 1.2969). Finally, the GBP/USD is trading below its lower Bollinger band (standing at 1.2932).

Supports and resistances:

1.3033 **

1.3010 *

1.2972 **

1.2957

1.2931 last

1.2876

1.2853 **

1.2830 *

1.2808 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 11-08-2024 at 16:40 UTC+1

Price reference: 1.2931 last known on 11-08-2024 at 16:40 UTC+1

Investment horizon: INTRADAY

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