GBP/USD intraday: the downside prevails as long as 1.2088 is resistance

1.2088 is our pivot point.

Our preference: the downside prevails as long as 1.2088 is resistance.

Alternative scenario: above 1.2088, look for 1.2139 and 1.2169.

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 1.2092 and 1.2071).

Supports and resistances:

1.2169 **

1.2139 *

1.2088 **

1.2068

1.2048 last

1.1987

1.1956 **

1.1926 *

1.1896 **

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 02-28-2023 at 21:39 UTC+1

Price reference: 1.2048 last known on 02-28-2023 at 21:39 UTC+1

Investment horizon: INTRADAY