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GBP/USD intraday: the upside prevails as long as 1.2102 is support

2023-10-26
1116

1.2102 is our pivot point.

Our preference: the upside prevails as long as 1.2102 is support.

Alternative scenario: the downside breakout of 1.2102 would call for 1.2071 and 1.2052.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.2105 and 1.2099).

Supports and resistances:

1.2225 **

1.2207 *

1.2188 **

1.2170

1.2132 last

1.2114

1.2102 **

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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