Our pivot point stands at 1.2660.
Our preference: the upside prevails as long as 1.2660 is support.
Alternative scenario: below 1.2660, expect 1.2627 and 1.2607.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2656 and 1.2638). Finally, the GBP/USD has crossed above its upper Bollinger band (1.2692).
Supports and resistances:
1.2795 **
1.2776 *
1.2756 **
1.2736
1.2694 last
1.2673
1.2660 **
1.2627 *
1.2607 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-16-2024 at 17:56 UTC+1
Price reference: 1.2694 last known on 12-16-2024 at 17:56 UTC+1
Investment horizon: INTRADAY
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