GBPUSD Pair Value Assessment: Maintains over the 1.2720 level with the risk-appetite mentality in the initial European Trading.
The GBPUSD duo begins a fresh week on a high tone amid the opening Eurozone trade on Monday. The risk- appetite atmosphere supports the main duo’s comeback. Nevertheless, growing tensions in the Red Sea may bolster secure demand for assets while capping pair’s rise. The pair traded at 1.2722, gaining 0.16 percent on the day.
GBPUSD Key Highlights
The pound to the USD gets pace at 1.2722 off a risk-mood outlook.
Technical Analysis
The exchange rate has resumed an upward trajectory over the 100-hourly rate EMA. While the RSI signal is positive over the 50-day moving average.
The primary upward hurdle is located at 1.2725, with the first support mark around 1.2655 mark.
The sterling dollar pair has entered a rising trend and remains over the 100-hourly EMA) on its four-hourly graph. The 14-day’s RSI is positive in excess of the 50 midl-ines, showing potential higher the up side. A breakout beyond the top border within the Bollinger Band on 1.2725 level. It would show a top of the 8th of January at 1.2767. With an extra upward obstruction at a peak of December 1.
On the other hand, the first support mark for GBPUSD lies at the lower bound of the Bollinger Band, near 1.2655. The important argument level is visible near 1.2600 to1.2610. Showing the convergence between the psychological level with the low of Jan 2 bottom. Any further decline beneath that point will result to a slide to a trough of 1.2535 on 11th of December.
Performance Statistics
▲
1.270.00 (0.13%)Update 22/01/2024 11:36:44
High1.27238
Low1.26953
Open1.26987
Previous Close1.27151
52Wk High 1.30332Since 7/19/2023-2.37%
52Wk Low1 .20760Since 10/3/20235.13%
20-Day Average1 .27023
200-Day Average1 .25343
14-Day RSI
Trend Probability
The GBPUSD continues to trade near the levels it has been trading at until the US Fed changed its language on 13th of December. Investors with a medium-term perspective on the pair will probably to keep coming to expect an uptrend.
Daily – Technical Indicators (Jan 22nd)
| Name | Value | Action |
| RSI(14) | 53.381 | Neutral |
| STOCH(9,6) | 48.307 | Neutral |
| STOCHRSI(14) | 59.852 | Buy |
| MACD(12,26) | 0.002 | Buy |
| ADX(14) | 28.829 | Buy |
| Williams %R | -38.021 | Buy |
| Name | Value | Action |
| CCI(14) | 25.6256 | Neutral |
| ATR(14) | 0.0077 | Less Volatility |
| Highs/Lows(14) | 0.0000 | Neutral |
| Ultimate Oscillator | 53.056 | Buy |
| ROC | 0.411 | Buy |
| Bull/Bear Power(13) | 0.0021 | Buy |
