GBP/USD – Bulls pray for close above 1.2947
Pair’s retreat from 1.3121 (yesterday’s high) to 1.2915 levels in the NY session indicates bears remain in control and a day end close below 1.2946 (Sep 21 low) would open doors for a re-test of the post Brexit low of 1.2789.
In case, the day end close is above 1.2946, then the oversold nature of the intraday indicators could come into play on Monday and aid technical recovery, which might result in re-test of 1.3030-1.3050 area.
In case, the day end close is above 1.2946, then the oversold nature of the intraday indicators could come into play on Monday and aid technical recovery, which might result in re-test of 1.3030-1.3050 area.
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