The GBPUSD remains under pressure with the closest target rate at 1.2440 (December Low). A break below the 1.2440 level could possibly force the pair as low as 1.2380. In contrast, resistance is found at the 1.2865 and 1.2935 respectively. However, Sterling needs to regain the 20-day ma at 1.2804, it would indicate that it is ready to move towards at 1.2865 (confirm to stop the downside pressure). The RSI (DAY) remains at the oversold territory. The CCI (DAY) closed at the oversold territory.

 

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Christos Nikolaou

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