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Sep 16 - 08:55 AM

GBP/USD - Over Sold Conditions But Dangerous To Counter This Trend

By Peter Stoneham  —  Sep 16 - 06:40 AM
  • Sterling trades under 1.1400 for the first time since 1985

  • Dangerous to counter the trend but mthly, wkly and daily charts over sold

  • Rebound risk is high but corrective action likely limited

  • Fading previous 1.1407 significant low or 1.1478 session high a strategy

  • However, for now we are side lined awaiting the next signal

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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