GBP/USD Engulfing Clear Support!
Updated
Amidst a dovish repricing, according to the OIS curve, sterling is on the back foot against the majority of its G10 peers ahead of the US cash open, currently down -0.5% versus its US counterpart.
With key support on the verge of breaching, this could lead to further downside in the currency pair!
With key support on the verge of breaching, this could lead to further downside in the currency pair!
Note
The support confluence highlighted in yesterday's video appears to be doing its job: holding firm for the time being.
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