GBP/USD late March’s daily chart is pointing to oversold conditions. Yohay Elam, an analyst at FXStreet, takes a look at the cable’s technical outlook. Key quotes “It is essential to note that volatility has significantly increased, while liquidity is sometimes lacking. Trading with lower leverage is warranted.” “The Relative Strength Index on the daily chart is attempting to rise above 30 – exiting oversold conditions – and if that happens, it will allow for further falls.” “The round level of 1.16 may provide some support. It is followed by 1.1440, the initial trough, followed by 1.1409, the most recent 35-year low.” “Resistance awaits at the post-crash high of 1.1878, followed by the September 2019 low of 1.1957.” 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 NY Governor Cuomo: All non-essential members of workforce in NY must stay home FX Street 2 years GBP/USD late March's daily chart is pointing to oversold conditions. Yohay Elam, an analyst at FXStreet, takes a look at the cable’s technical outlook. Key quotes “It is essential to note that volatility has significantly increased, while liquidity is sometimes lacking. Trading with lower leverage is warranted.” “The Relative Strength Index on the daily chart is attempting to rise above 30 – exiting oversold conditions – and if that happens, it will allow for further falls.” “The round level of 1.16 may provide some support. It is followed by 1.1440, the initial trough, followed by 1.1409, the most recent 35-year… 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.
