Our pivot point is at 1.2641.
Our preference: the upside prevails as long as 1.2641 is support
Alternative scenario: below 1.2641, expect 1.2600 and 1.2575.
Comment: the RSI is above 70. It could mean either that the price 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 1.2620 and 1.2603). Finally, the GBP/USD is trading above its upper Bollinger band (standing at 1.2679).
Supports and resistances:
1.2812 **
1.2787 *
1.2762 **
1.2737
1.2688 last
1.2658
1.2641 **
1.2600 *
1.2575 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 03-03-2025 at 19:27 UTC+1
Price reference: 1.2688 last known on 03-03-2025 at 19:27 UTC+1
Investment horizon: INTRADAY
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