GBP/USD extends the decline following the Federal Reserve rate decision as the Bank of England (BoE) unexpectedly keeps the Bank Rate at 5.25% in September. GBP/USD Falls After BoE Rate Decision to Push RSI Into Oversold Zone Keep in mind, GBP/USD trades below the 200-Day SMA (1.2434) for the first time since March as a head-and-shoulders pattern started to unfold earlier this month, with the breach below the May low (1.2308) pushing the Relative Strength Index (RSI) into oversold territory for the first time in 2023. Recent developments surrounding GBP/USD suggest there’s a change in trend as the 50-Day SMA (1.2681) ... (full story)