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GBP/USD Technical Analysis: Overbought Levels

From dailyforex.com

Investors' appetite for risk amid calming fears of a further collapse of the global banking system and improving investor sentiment in global markets are factors that helped the bulls of the GBP/USD currency pair rebound to the upside, with gains that reached the resistance level of 1.2350, near its highest in two months. Despite the recovery, there is concern that banking fear could lead to a more risk-averse attitude among lenders, adding another pressure on liquidity, just as companies struggle with higher interest rates. For the time being, concerns about the impact of banking turmoil are receding, and the Bank ... (full story)

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  • Category: Technical Analysis