Since yesterday the GBP/USD pair keep advancing and
today nailed fresh one-month high at 1.3081, a level that has not been visited
since August 4th. After retreating later to lower level with current market
price 1.3043, the pair succeded to hold gains at the end of the session amid
the lack of macro news from UK.
On the four-hour time frame the pair is advancing
beyond its bullish 20-day SMA, which has crossed to above the 200-day EMA.
Stochastic has retreated from the overbought territory, but yet maintains
extreme values, while RSI is hovering around 70 and has lost directional
strength.
To confirm certain return of the bulls, the pair must
fight the key resistance located at 1.3080 with scope to test next 1.3150.
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