GBP/USD: Bearish fundamentals remain in place but selloff overdone – MUFG By MSalordFX GBPUSD Banks Currencies
ersold and weakness has overshot short-term fundamental drivers increasing the likelihood of a temporary relief rally.are signalling that the GBP is now heavily oversold against the USD in the near -term which increases the likelihood of a temporary relief rally. The 14-day RSI has reached its low est level since March 2020.
“The fundamental outlook continues to favour further GBP weakness. A cautious message from the BoE should support a weaker GBP in theInformation on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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