GBPUSD continues to fall deeply
Let's explore the market with Selena today!
GBPUSD continued its days of low trading and price decline within the range of 1.2136. The Relative Strength Index (RSI) on the 1D chart remains below 30, and GBP/USD is trading slightly below the lower limit of the descending regression channel, confirming an oversold condition.
On the other hand, 1.2130 (a static level since February) is considered immediate support before 1.2100 and 1.2050.
At the end of the day, the U.S. Census Bureau will release the Durable Goods Orders data for August. It is expected to be a positive news for GBPUSD.
GBPUSD continued its days of low trading and price decline within the range of 1.2136. The Relative Strength Index (RSI) on the 1D chart remains below 30, and GBP/USD is trading slightly below the lower limit of the descending regression channel, confirming an oversold condition.
On the other hand, 1.2130 (a static level since February) is considered immediate support before 1.2100 and 1.2050.
At the end of the day, the U.S. Census Bureau will release the Durable Goods Orders data for August. It is expected to be a positive news for GBPUSD.
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good luck everyone <3
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What do you think about the market today?
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Unlike the US economy, the UK is struggling to cope with the consequences of higher interest rates.
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GU is bullish towards the resistance zone as Selena pointed out
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Next week the United Kingdom will see data on production management index (PMI) for September; The widely predicted PMI data will show that economic expectations continue to decline.
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