gbpusd analysis on dated 16-9-2022

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60pips.com

 

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.

 

Recommendations: Buy/buy limit @ 1.14050        TP/Target: 1.15500
Trailing Stop : 30pips/300point