GBPUSD Daily Chart:
After forming a lower peak at 1.2670, GBPUSD retreated again to trading currently near 1.1620 in its day number 24 of consecutive being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.2754.
GBPUSD is still also undermined by continued being below its daily SMA50, its daily SMA100 and its daily SMA200.
GBPUSD daily RSI-14 is now referring to continued existence inside the neutral area reading 41.019.
GBPUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside the neutral area at 29.802 leading to the upside its signal line which is lower just inside the neutral region reading 21.927.
After positive crossover on forming 1.2476 bottom last Tuesday, following increasing of the downside momentum on breaking out 1.2660 previous supporting level.
Important levels: Daily SMA50 @ 1.2895, Daily SMA100 @ 1.2932 and Daily SMA200 @ 1.3259
Experienced S&R:
S1: 1.2476
S2: 1.2365
S3: 1.2108
R1: 1.2670
R2: 1.2849
R3: 1.2926
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
After forming a lower peak at 1.2670, GBPUSD retreated again to trading currently near 1.1620 in its day number 24 of consecutive being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.2754.
GBPUSD is still also undermined by continued being below its daily SMA50, its daily SMA100 and its daily SMA200.
GBPUSD daily RSI-14 is now referring to continued existence inside the neutral area reading 41.019.
GBPUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside the neutral area at 29.802 leading to the upside its signal line which is lower just inside the neutral region reading 21.927.
After positive crossover on forming 1.2476 bottom last Tuesday, following increasing of the downside momentum on breaking out 1.2660 previous supporting level.
Important levels: Daily SMA50 @ 1.2895, Daily SMA100 @ 1.2932 and Daily SMA200 @ 1.3259
Experienced S&R:
S1: 1.2476
S2: 1.2365
S3: 1.2108
R1: 1.2670
R2: 1.2849
R3: 1.2926
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din