7645515 7/13/2017 12:24 PM, GBP/SEK intraday: the RSI is oversold


10.86 is our pivot point.


Our preference

: the downside prevails as long as 10.86 is resistance.


Alternative scenario

: the upside breakout of 10.86, would call for 10.90 and 10.92.


Comment

: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 10.84 and 10.83).


Supports and resistances

:

10.92 **

10.90 *

10.86 **

10.85

10.83 last

10.78

10.76 **

10.74 *

10.72 **