Technical Analysis – GBPUSD advances but finds resistance at 40-day SMA
Posted on June 25, 2019 at 6:32 am GMTGBPUSD has been advancing over the last five days, following the rebound on the six-month low of 1.2500. Currently, the price is finding strong resistance near the 40-day simple moving average (SMA), which overlaps with the 1.2770 barrier. Looking at the technical indicators the stochastic seems to be overstretched as it is turning lower above the 80 level. However, the RSI is pointing slightly up while in the positive territory, suggesting more gains in the near term. If the price continues the strong bullish [..]