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.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Capital is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.