Currently as we can see on the daily timeframe, the ccy pair is in an upward channel and has reached the support level of the channel.
In addition, if we look at the 4H RSI, it is in the oversold region already.
We can expect the price to retrace back to the resistance for now. After that, we will need to see again if the resistance holds on. If price breaks the resistance then we can open more long positions.
The GBP has been very reactive to the news hence we can also follow closely to the news to determine the next course of action.
In addition, if we look at the 4H RSI, it is in the oversold region already.
We can expect the price to retrace back to the resistance for now. After that, we will need to see again if the resistance holds on. If price breaks the resistance then we can open more long positions.
The GBP has been very reactive to the news hence we can also follow closely to the news to determine the next course of action.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.