GBP/USD intraday: the downside prevails as long as 1.2491 is resistance

1.2491 is our pivot point.

Our preference: the downside prevails as long as 1.2491 is resistance.

Alternative scenario: above 1.2491, look for 1.2530 and 1.2554.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2466 and 1.2482).

Supports and resistances:

1.2554 **

1.2530 *

1.2491 **

1.2475

1.2458 last

1.2408

1.2384 **

1.2361 *

1.2337 **

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 04-05-2023 at 21:53 UTC+1

Price reference: 1.2458 last known on 04-05-2023 at 21:53 UTC+1

Investment horizon: INTRADAY