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GBP/USD Hits Most Oversold Since COVID

GBP
  • GBP/USD inching to fresh lows in recent trade - 1.2691 printed today is the lowest since the 1.2676 printed on Sep23, 2020, which marks first support for the pair. Weakness through here opens 1.2644 and 1.2495 next.
  • The price action over the past few sessions has put the pair in technically oversold territory: the 14d RSI is now at 25 - the lowest point since March 2020 and the initial wave of lockdowns that followed COVID.

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