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Sterling is easing against the US dollar on Friday morning European session.
At 0625 UTC, the exchange rate struggles to get afloat the 1.3100 level.
The hourly RSI is overstretched at 25.74, suggesting that a correction is deemed during this session.
The lower boundary of the hourly Bollinger bands is located at 1.3077 and likely to be tested during this morning. If so, a counterback is possible towards the weekly pivot point at 1.3128. Below there, a free fall can take place towards the weekly S1 at 1.2962.
The upper boundary of the hourly Bollinger bands is located at 1.3167. Notice that before it, 20, 55 and 100-hour SMAs are positioned at 1.3121, 1.3139 and 1.3154, respectively.
At 0625 UTC, the exchange rate struggles to get afloat the 1.3100 level.
The hourly RSI is overstretched at 25.74, suggesting that a correction is deemed during this session.
The lower boundary of the hourly Bollinger bands is located at 1.3077 and likely to be tested during this morning. If so, a counterback is possible towards the weekly pivot point at 1.3128. Below there, a free fall can take place towards the weekly S1 at 1.2962.
The upper boundary of the hourly Bollinger bands is located at 1.3167. Notice that before it, 20, 55 and 100-hour SMAs are positioned at 1.3121, 1.3139 and 1.3154, respectively.
