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GBPUSD on a slippery slope
GBPUSD has lost its positive momentum after the pullback on the almost two-and-a-half-year high of 1.3265, trading within the restrictive support area of 1.3045-1.3085, which encapsulates the 23.6% Fibonacci retracement level of the upward wave from 1.2300 to 1.3265. In the short term, the market could maintain downside risks if the RSI keeps moving around the neutral threshold of 50 and the stochastic continues to move in the oversold territory. If the pair weakens further, the 50-day simple moving average (SMA) at 1.2940 could provide immediate support ahead of the 38.2% Fibonacci at 1.2900. Even lower, the 50.0% ... (full story)
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- Sep 10, 2024 7:28am Sep 10, 2024 7:28am
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- Posted: Sep 10, 2024 6:59am
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