The GBP/USD is expected to trade sideways but the chance of a break above the 1.2866 has increased. Sterling, first support is found at the 1.2712 and 1.2670 respectively. A break below the 1.2670 level could possibly force the pair as low as 1.2480. In contrast, resistance is found at the 1.2866 with the closet target at the 1.2966. If daily closing above 1.2866, it would indicate that STG is ready to move towards 1.3180. The RSI (DAY) remains at the oversold territory. The CCI (DAY) closed to the oversold territory.


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Christos Nikolaou

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