Our pivot point stands at 1.2452.
Our preference: the upside prevails as long as 1.2452 is support.
Alternative scenario: below 1.2452, expect 1.2412 and 1.2389.
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 1.2423 and 1.2388). Finally, the GBP/USD has crossed above its upper Bollinger band (1.2477).
Supports and resistances:
1.2600 **
1.2577 *
1.2553 **
1.2530
1.2483 last
1.2467
1.2452 **
1.2412 *
1.2389 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-24-2025 at 17:07 UTC+1
Price reference: 1.2483 last known on 01-24-2025 at 17:07 UTC+1
Investment horizon: INTRADAY
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