After forming a higher low at 1.2829, GBPUSD became trading now in its fourth consecutive day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.3153.
GBPUSD tried this morning to keep its creeping up to meet currently its daily SMA50 just below its daily SMA100, while the pair is still undermined over longer range by continued existence below its daily SMA200.
GBPUSD daily RSI-14 is now referring to continued existence inside the neutral area reading 51.758.
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 53.457 leading to the upside its signal line which is lower reading 34.287 in the neutral region.
After positive crossover just inside of it on forming a higher low at 1.2826 above its formed second bottom on last Oct. 30 at 1.2695 to keep its bottom of last Aug. 15 at 1.2661 unbroken spurring reversing by double bottom formation ended until now to forming a lower high at 1.3175 on Nov. 7.
Important levels: Daily SMA50 @ 1.3034, Daily SMA100 @ 1.3022 and Daily SMA200 @ 1.3377
Experienced S&R:
S1: 1.2826
S2: 1.2695
S3: 1.2661
R1: 1.3175
R2: 1.3256
R3: 1.3298
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din