1.2613 is our pivot point.
Our preference: the downside prevails as long as 1.2613 is resistance.
Alternative scenario: above 1.2613, look for 1.2646 and 1.2665.
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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2681 and 1.2694). Finally, the GBP/USD has penetrated its lower Bollinger band (1.2588).
Supports and resistances:
1.2665 **
1.2646 *
1.2613 **
1.2601
1.2576 last
1.2523
1.2504 **
1.2485 *
1.2466 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-18-2024 at 22:01 UTC+1
Price reference: 1.2576 last known on 12-18-2024 at 22:01 UTC+1
Investment horizon: INTRADAY
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