GBP/USD intraday: the downside prevails as long as 1.2059 is resistance

Our pivot point is at 1.2059.

Our preference: the downside prevails as long as 1.2059 is resistance.

Alternative scenario: the upside breakout of 1.2059, would call for 1.2109 and 1.2140.

Comment: the RSI is below its neutrality area at 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 1.2020 and 1.2028).

Supports and resistances:

1.2140 **

1.2109 *

1.2059 **

1.2039

1.2018 last

1.1953

1.1923 **

1.1893 *

1.1862 **

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 03-06-2023 at 21:52 UTC+1

Price reference: 1.2018 last known on 03-06-2023 at 21:52 UTC+1

Investment horizon: INTRADAY