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GBP/USD intraday: the upside prevails as long as 1.2718 is support

2024-05-24
869

Our pivot point stands at 1.2718.

Our preference: the upside prevails as long as 1.2718 is support.

Alternative scenario: the downside breakout of 1.2718 would call for 1.2694 and 1.2679.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2725 and 1.2706).

Supports and resistances:

1.2811 **

1.2797 *

1.2783 **

1.2769

1.2738 last

1.2727

1.2718 **

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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