- GBP/USD Rallies above the ascending channel
- Technical oscillators are mixed
He is fighting with the simple 200 -day mobile average (SMA) near the 1,2800 area after breaking the upward ascending channel. The technical oscillators show some contradictory signs as the RSI moves horizontally below area 70, while the stochastic has entered the overcompra region with a strong impulse.
If prices rise even more, they could have an immediate resistance in the area between 1,2815 and 1,2840. This is where the Bollinger Superior Band is located and intervenes on the path of a rally to barrier 1.3045, which was established at the highest point of November 6.
On the other hand, the Bears could reach the average level of the Bollinger band in 1,2590 and the 1,2550 barricade if they push the price below the 12730 support. If the merchants break the channel at the disadvantage, then the approach would change to the 50 -day SMA in 1,2470. A decrease under this line could provide merchants the opportunity to challenge the support level of 1,2330.
To conclude, GBP/USD is increasing the probability of more upward pressures, especially if there is a closing session beyond the 200 -day SMA.
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