GBPUSD Will Move Higher! Buy!

Oct 11

Here is our detailed technical review for GBPUSD.

Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a key horizontal level 1.307.

Considering the today's price action, probabilities will be high to see a movement to 1.312.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.

Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

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