7645508 7/13/2017 12:23 PM, GBP/RUB intraday: the RSI is overbought


Our pivot point stands at 77.200.


Our preference

: the upside prevails as long as 77.200 is support.


Alternative scenario

: below 77.200, expect 76.870 and 76.670.


Comment

: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 77.377 and 77.543). Finally, the GBP/RUB has crossed above its upper Bollinger band (77.568).


Supports and resistances

:

78.660 **

78.460 *

78.250 **

78.050

77.646 last

77.340

77.200 **

76.870 *

76.670 **