The EUR/USD daily RSI has fallen to oversold levels last seen in 2020, raising the risk of a reversal across correlated currency pairs, including the US dollar and GBP/USD.
GBPUSD fell toward the 1.3200 zone as market support remains at 1.3140-60. As long as the market holds above the support zone of 1.3140-60, a rebound towards the 1.3350-1.3400 zone is likely.
GBP/USD Price Forecast: Declines to near 1.3250 as bearish bias persists below 100-day moving average
The Pound-Dollar rate could extend gains if US manufacturing disappoints, although stronger factory activity may offer the Greenback some support. The Pound US Dollar (GBP/USD) exchange rate raced higher on Wednesday, amid a notable correction in the 'Greenback' following the latest US inflation data.
GBP/AUD: Wave four triangle could lead to another decline [Video]
EUR/GBP: Range set to persist – Rabobank
Pound Sterling Price News and Forecast: GBP/USD with no momentum, more sellers
GBP/USD fell to 1.3228 on Wednesday, with the pound remaining at three-month lows. Investors continue to favour the dollar amid growing expectations of a Federal Reserve rate hike as early as October, while the Bank of England is not expected to change policy until November.
GBP/USD with no momentum, more sellers
GBPUSD fell toward the 1.3200 zone as market support remains at 1.3140-60. As long as the market holds above the support zone of 1.3140-60, a rebound towards the 1.3350-1.3400 zone is likely.
GBP/USD Price Forecast: Weakens below 1.3250, technical barriers sustain bearish bias
Pound Sterling Price News and Forecast: GBP/USD slips as 2004-era US yields lift the US Dollar