GBP/USD intraday: the downside prevails as long as 1.2334 is resistance

Our pivot point stands at 1.2334.

Our preference: the downside prevails as long as 1.2334 is resistance.

Alternative scenario: the upside breakout of 1.2334, would call for 1.2383 and 1.2412.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2302 and 1.2301).

Supports and resistances:

1.2412 **

1.2383 *

1.2334 **

1.2315

1.2290 last

1.2217

1.2188 **

1.2159 *

1.2130 **

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 03-23-2023 at 21:08 UTC+1

Price reference: 1.2290 last known on 03-23-2023 at 21:08 UTC+1

Investment horizon: INTRADAY