GBPUSD has declined sharply from the high of 1.3484 that it hit on 1st September, to punch a low of 1.2674 on 23rd September; this was a very sharp decline post which Pound recovered till 1.3080 on 12th October and has been trading sideways since then. Currently Cable is at the support of the 20-day SMA indicating buying interest at lower levels, it is likely that the pair could rebound towards 1.2965 & 1.3000, while it sustains above 1.2880.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.