GBP/USD intraday: as long as 1.2391 is support look for 1.2496

1.2391 is our pivot point.

Our preference: as long as 1.2391 is support look for 1.2496.

Alternative scenario: the downside breakout of 1.2391 would call for 1.2352 and 1.2329.

Comment: the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (1.2425) but above its 50 period moving average (1.2412).

Supports and resistances:

1.2542 **

1.2519 *

1.2496 **

1.2473

1.2421 last

1.2406

1.2391 **

1.2352 *

1.2329 **

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 04-11-2023 at 21:51 UTC+1

Price reference: 1.2421 last known on 04-11-2023 at 21:51 UTC+1

Investment horizon: INTRADAY