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Daily Forex Strategy
GBP/USD – Potential rebound around the corner. The pair has staged the push down as expected and almost hit the short-term target/support of 1.2920 as per highlighted in our report (click here for a recap). It printed an intraday low of 1.2959 yesterday, 13 Jan on the backdrop of dovish comments from BOE officials. The 300+ pips of decline from the 31 Dec 2019 minor swing high is now approaching the lower boundary of the medium-term ascending channel in place since 03 Sep 2019 low with the hourly RSI oscillator that has tested an extreme oversold level thrice. Flip to a bullish bias with 1.2820 as the key ... (full story)