After GBPUSD resumed its slide today to 1.3101 it could bounce up for trading currently close to 1.3250 containing most of this week slide in strong reversing sign to the upside over the short term.
However the pair is still well below its daily SMA50, its daily SMA100 and its daily SMA200 to continue to be exposed it to forming lower high.
GBPUSD is trading in its seventh consecutive day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.3383.
GBPUSD daily RSI-14 is now referring to existence inside the neutral area coming up from its oversold region below 30 reading 37.678.
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 23.563 leading to the upside its signal line which is still in the oversold area below 20 reading 16.010, after positive crossover inside it.
Important levels: Daily SMA50 @ 1.3554, Daily SMA100 @ 1.3771 and Daily SMA200 @ 1.3599
Experienced S&R:
S1: 1.3101
S2: 1.3026
S3: 1.2775
R1: 1.3472
R2: 1.3617
R3: 1.3998
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din