11.11.2020
The pair has grown significantly in the recent days amid a weaker US dollar following the increased demand for risk assets. But it’s technically overbought, and the rally has stopped in the stock markets, which may result in a downward correction of the pair.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is under the overbought zone. Stoch also indicate the possibility of a downward reversal.
GBPUSD rate online: monitor the price movement in real time.
Sell the pair after its decline below 1.3245 with a possible drop to 1.3165.
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