GBP/USD stays in the positive territory near 1.3250 in the early American session on Tuesday as the dollar continues to have a difficult time finding demand despite the stronger-than-expected November PPI figures.
Despite the recent rebound, GBP/USD continues to trade below the 20-period and the 50-period SMAs on the four-hour chart. Moreover, the Relative Strength Index (RSI) indicator on the same chart remains below 50, punctuating the lack of bullish momentum.
On the upside, 1.3225 (20-period SMA) aligns as the first hurdle before 1.3240 (50-period SMA) and 1.3280 (static level, 100-period SMA).
In case a four-hour candle closes below 1.3200/1.3190 (psychological level, static level) support area, additional losses toward 1.3160 (December 8 low) could be witnessed.
