Our pivot point is at 1.2369.
Our preference: the downside prevails as long as 1.2369 is resistance.
Alternative scenario: the upside breakout of 1.2369, would call for 1.2412 and 1.2438.
Comment: the RSI is below its neutrality area at 50. 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 1.2366 and 1.2379). Finally, the GBP/USD is trading below its lower Bollinger band (standing at 1.2331).
Supports and resistances:
1.2438 **
1.2412 *
1.2369 **
1.2352
1.2331 last
1.2275
1.2250 **
1.2224 *
1.2198 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 03-31-2023 at 20:24 UTC+1
Price reference: 1.2331 last known on 03-31-2023 at 20:24 UTC+1
Investment horizon: INTRADAY