The GBPUSD is a major currency pair. The Pound Sterling is the fourth most traded currency in the world, and the US Dollar is the most traded. The pair represents a large volume of trade and investment between the two economies, making it an important barometer for global economic health.
- Although the bears are in control, the stalling negative momentum indicates a turnaround is possible
- We are trading at oversold extremes
- Previous support located at 1.14050
- A higher correction is expected
- Although the anticipated move higher is corrective, it does offer ample risk/reward today
- Preferred trade is to buy on dips.