Oversold levels for $GBPUSD - Forex Trading makemoney Finance
In the case of the GBP/USD currency pair, it fell to the 1.2275 support level, the lowest in two years, before closing trading stable around the 1.2335 level. Analysts say that more losses are possible this week, although a short rally cannot be ruled out.
Overall, the GBP/USD currency pair on Friday halted the current bearish movement and instead is trading neutral after the latest round of US data. It now appears that the currency pair has found support at around 1.2332 after the US Labor Department brought back the US jobs data with mixed results. Those readers hoping for a rebound in the Pound should note that near-term momentum remains firmly in motion against the currency, although some near-term relief rallies may form next week. But for now, there is a consensus among forex currency analysts that any strength is likely to be short-lived.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD recovers a bit after hitting fresh YTD low, keeps the red below 1.2300 markThe GBP/USD pair managed to rebound a few pips from its lowest level since June 2020 touched during the early European session and was last seen tradi
Read more »
GBP/USD rebounds swiftly from YTD low, retakes 1.2400 amid modest USD pullbackThe GBP/USD pair witnessed a dramatic intraday turnaround and rallied over 140 pips from its lowest level since June 2020 touched earlier this Monday.
Read more »
US Dollar Technical Outlook: USD/SGD, USD/PHP, USD/THB, USD/IDR Uptrends in FocusThe US Dollar has been rising against the Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah. Will momentum last as USD/SGD, USD/PHP, USD/THB and USD/IDR test resistance? Get your market update from ddubrovskyFX here:
Read more »
GBP/USD faces the next support at 1.2250 – UOBFurther downside momentum could drag cable to the mid-1.2200s in the near term, suggested UOB Group’s FX Strategists Lee Sue Ann and Quek Ser Leang. K
Read more »
GBP/USD looks headed to 1.20 – INGHaving suffered heavily last week, this week looks to be an equally formidable one for sterling. Economists at ING expect GBP/USD to slump toward 1.20
Read more »
Silver Price Analysis: XAG/USD slides to fresh YTD low, further below $22.00 markSilver witnessed selling for the third successive day on Monday and dropped to a fresh YTD low, further below the $22.00 mark during the first half of
Read more »