The GBP/USD pair plunged to 1.1957 its lowest since October 2016, solely to reach about 150 pips and settle in the 1.2080 price region. The Sterling is all about the armed fight between UK PM Johnson and the Parliament these days.
The GBP/USD pair is hanging just above the 1.2100 level, and the 4 hours chart shows that the recovery stalled below all of its moving averages, with the 50 EMA maintaining its bearish slope below the larger ones. Technical indicators have recovered from extremely oversold scenario but have entered the oversold region now
The pair would likely respond distinctly to Brexit-related headlines, with a break beyond 1.2140 now expected to confirm a technical extension toward 1.2200.
The GBP/USD pair is hanging just above the 1.2100 level, and the 4 hours chart shows that the recovery stalled below all of its moving averages, with the 50 EMA maintaining its bearish slope below the larger ones. Technical indicators have recovered from extremely oversold scenario but have entered the oversold region now
The pair would likely respond distinctly to Brexit-related headlines, with a break beyond 1.2140 now expected to confirm a technical extension toward 1.2200.