GBPUSD faced difficulty in rising higher than 1.3086 yesterday, after it could be able to resume its rebounding following forming higher low at 1.2784 on Sep. 5 above its bottom of last Aug. 15 at 1.2661.
GBPUSD resided now for trading close but above 1.30 psychological level trying to maintain a place above its daily SMA50, while the pair is still undermined over longer range by continued existence below its daily SMA100 and its daily SMA200.
GBPUSD is trading now in its third consecutive day of being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.2802.
GBPUSD daily RSI-14 is now referring to continued existence inside the neutral area reading 56.234.
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 79.291 close to the overbought region above 80 leading to the upside its signal line which is lower reading 74.283 in the neutral region, after positive crossover inside of it on forming a higher low at 1.2784.
Important levels: Daily SMA50 @ 1.2994, Daily SMA100 @ 1.3191 and Daily SMA200 @ 1.3525
Experienced S&R:
S1: 1.2785
S2: 1.2661
S3: 1.2588
R1: 1.3086
R2: 1.3212
R3: 1.3362
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din