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Alert - 10:25 (CET) - GbpUsd
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After the Sterling ended last week below 1.50 dollars, we'll see how it will rebound now that the UK is bordering a recession and the BoE confirmed it will cut rates aggressively in December. As the stocks had a relaxed opening, we're observing a slight appetite for high yielders, penalising currencies as the Dollar or the Yen.
the GbpUsd is trading at 1.4868 Dollars per Pound. This session, the pair is ranging from 1.4647 to 1.4886. The current price is over yesterday's close at 1.4740. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are set at 1.4748 (June 18th 2002 low), 1.4550 (May 17th, 2002 low) and 1.4332 (April 4th, 2002 low). The resistances are watched at 1.5000 (key), 1.5483 (November 12th high) and 1.5703 (November 11th high), just in case.
Checking the daily graphics, the current price is over the 23.60% (1.3701) and on the 38.20% (1.5767) Fibonacci retracement lines. The average volatility per hour is 300 pips and the 60-minute Relative Strenght Index (RSI) is at 59 points, after being very oversold.
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