-
GBPUSD hovers around 50-SMA as advance falters
video GBPUSD had been on a steady decline after its upside movement got rejected twice at the 1.2445 region. However, the pair has been gaining ground in the last few daily sessions, with the price jumping above its 50-day simple moving average (SMA) before paring some of its gains. The momentum indicators currently suggest that near-term risks remain tilted to the upside. Specifically, the RSI has flatlined above its 50-neutral mark, while the stochastic oscillator is sloping upwards near its 80-overbought zone. If the upside pressures persist, the pair could test the recent resistance of 1.2198. Conquering this ... (full story)