Technical Analysis

Chart Of The Day: GBP/USD

    Share on Facebook Share on Twitter

    Some will tell you than all the news is “baked into the price” of an asset. Stocks, crypto and even currencies. And for the , there has been an overabundance of “bad news” from high inflation, a power emergency this winter, to Brexit to a rotating Prime Minister (and I am sure I am forgetting a few things).

    However, the cable has finally reached some key levels tested in 2016 during the Brexit vote fallout, the Covid lows from 2020 and then today. Is this the low? I’m not sure, but with the pair at channel support, testing the 161% golden Fibonacci ration (161% extension of the mid July to mid August move) and an oversold and divergent RSI, we may get a dead cat bounce at least to the 1.1750 level near term.

    GBP/USD Daily Chart

    Originally Published Here -Source link

    0 0 votes
    Article Rating

    GameStop, Rivian, Regeneron, Snap and more

    Previous article

    Even yen bears unnerved by latest slide as Tokyo ramps up warnings By Reuters

    Next article

    You may also like

    Notify of
    Inline Feedbacks
    View all comments