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GBP/USD intraday: below its lower Bollinger band

2024-01-24
692

Our pivot point stands at 1.2753.

Our preference: under pressure below 1.2753.

Alternative scenario: above 1.2753, look for 1.2781 and 1.2798.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2747 and 1.2715). Finally, the GBP/USD has penetrated its lower Bollinger band (1.2719).

Supports and resistances:

1.2798 **

1.2781 *

1.2753 **

1.2741

1.2713 last

1.2679

1.2662 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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