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GBPUSD up against restraining 200-day SMA
video GBPUSD yesterday found a foothold on the mid-Bollinger band presently at the 1.2461 level, that being the 50.0% Fibonacci retracement of the down leg from 1.3514 to 1.1410. The flattened 200-day simple moving average (SMA) at 1.2683 and the 61.8% Fibo of 1.2711 overhead (forming a vital resistance area) are obstructing upside price actions. The short-term oscillators endorse some improvement in price as does the strengthening slope of the 50-day SMA. The MACD in the positive region has moved back above its red signal line, while the RSI is climbing in bullish territory. Furthermore, the stochastics have turned ... (full story)