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GBPUSD marks its worst month of 2023

From xm.com

{video}GBPUSD has been in the red almost every single week since peaking at a 15-month high of 1.3141 in mid-July, with selling forces intensifying significantly in September. The pair is 4.0% down this month, suffering its worst month so far this year. It is currently trading near a six-month low of 1.2173, increasing speculation that the bearish cycle may end soon. Still, the RSI and the Stochastic oscillator are not showing any improvement, even though they have reached an oversold region. This means that sellers may continue to be active for some time before backing off. The 1.2100 level is currently in sight. If ... (full story)

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  • Category: Technical Analysis