GBPUSD: Remains confined in a narrow band
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Brian, hello everyone!
GBPUSD is still trying to recover from its losses. The Relative Strength Index (RSI) on the 4-hour chart remains below 30, indicating an oversold condition. The GBP/USD is trading slightly below the lower limit of the descending regression channel. If this currency pair undergoes a technical correction, it may encounter resistance levels at 1.2200, 1.2240, and 1.2300.
On the other hand, 1.2130 is considered an immediate support level before 1.2100 (psychological level, static level), and 1.2050.
GBPUSD is still trying to recover from its losses. The Relative Strength Index (RSI) on the 4-hour chart remains below 30, indicating an oversold condition. The GBP/USD is trading slightly below the lower limit of the descending regression channel. If this currency pair undergoes a technical correction, it may encounter resistance levels at 1.2200, 1.2240, and 1.2300.
On the other hand, 1.2130 is considered an immediate support level before 1.2100 (psychological level, static level), and 1.2050.
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good luckNot
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