Forex Signal For GBP/USD: Sterling Moves into Oversold Zone
Forex Signal For GBP/USD: Sterling Moves into Oversold Zone
GBP/USD price has been in an uptrend for the past few days. It has managed to break above the key resistance level at 1,1500, the upper side of the ascending triangle pattern.
Bull Market Outlook
- Buy the GBP/USD pair and take a profit at 1,1850.
- Add a stop-loss at 1,1500.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Sterling Moves into Oversold Zone
Bear Market Outlook
- Take a sell stop at 1,1600 and a profit at 1,1500.
- Add a stop-loss at 1,1700.
GBP/USD price rallied to its highest level since September 13, reaching 1,1650 as US dollar selling continued, roughly 12% above September lows.
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