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.
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