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GBP/USD – Bearish break but intraday RSI oversold

FX:GBPUSD   British Pound/U.S. Dollar
Resistance – 1.42, 1.4277, 1.4330

Support – 1.4193, 1.4132, 1.4080

  • Prices dropped to 1.4160 in Asia, pushing the hourly and 4-hour RSI to oversold territory.
  • Hence, a temporary loss of momentum followed by a minor correction to 1.4330 cannot be ruled out.
  • However, given the bearish weekly closing and daily RSI at 35.00, upticks are likely to be met with fresh offers, thus crucial support levels mentioned above stand exposed.
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