Before
the release of the money and credit UK data today the GBP/USD pair has been
struck within the 1.24 levels. But the better-than-expected reports pushed the
pair higher to reach daily high at 1.2526. Afterwards the retreated slightly
and the current market price is 1.2492.
As
it is clearly seen on the H4 chart the pair crossed over the 20-day, 100-day
and 200-day exponential moving averages, but meanwhile the 100-day and 200-day
EMAs are staying flat, which is hinting neutral shades.
RSI
is muted on 56.50 level while stochastic is pointing north, nearing extreme
overbought conditions, but displaying bullish momentum.
The
cable held above the daily prevailing mood from 1.2380 area, but still the pair
is capped by the strong resistance at 1.2529.
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