GBP/USD has collapsed into 35 year lows. Karen Jones, Team Head FICC Technical Analysis Research, takes a look at the cable’s technical picture. Key quotes “We have eroded the 1.1491 October 2016 low. Further down sits the 1985 low at 1.0463. Rallies are indicated to fail in the 1.1862, 1.2118 band.” “The daily RSI is down to 11 and is in oversold territory and we may see some consolidation ahead of further losses.” “Minor resistance comes in at the 1.1958 September 2019 low and the 1.2194 October low and while capped here rallies will make no impact on the chart.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Coronavirus Chronicle: How the Pandemic Impacted the Forex Market Felipe Erazo 2 years GBP/USD has collapsed into 35 year lows. Karen Jones, Team Head FICC Technical Analysis Research, takes a look at the cable’s technical picture. Key quotes “We have eroded the 1.1491 October 2016 low. Further down sits the 1985 low at 1.0463. Rallies are indicated to fail in the 1.1862, 1.2118 band.” “The daily RSI is down to 11 and is in oversold territory and we may see some consolidation ahead of further losses.” “Minor resistance comes in at the 1.1958 September 2019 low and the 1.2194 October low and while capped here rallies will make no impact on the chart.”… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
