GBP/USD Engulfing Clear Support!

Amidst a dovish repricing, according to the OIS curve, sterling is on the back foot against the majority of its G10 peers ahead of the US cash open, currently down -0.5% versus its US counterpart.

With key support on the verge of breaching, this could lead to further downside in the currency pair!

Yorum:

The support confluence highlighted in yesterday's video appears to be doing its job: holding firm for the time being.