Technical Analysis: Pound Sterling consolidates around 1.2660
The Pound Sterling demonstrates a sideways performance as investors await the US inflation data for fresh guidance. The GBP/USD trades back and forth around 1.2660, and remains inside Monday’s trading range. The 200-day Exponential Moving Average (EMA) near 1.2570 supports the Pound Sterling bulls.
On the downside, the psychological level of 1.2500 plotted from December 8 low will be a major support for the Cable.
The 14-period Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting indecisiveness among market participants.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.