The Pound Sterling is up 0.34% against its major rivals, is 1.7000 a selling zone?

[RTFX-Trading]

The Pound Sterling is up 0.34% against its major rivals, is 1.7000 a selling zone?

The Pound is still favored by investors, up 0.34% against its major rivals, 1.6998 against the Dollar, 1.1789 against the Euro, 1.8016 against the Swiss Franc and 161.79 against the Yen.



However, the increase in the last two days is a little excessive in my opinion, a downward correction is expected, as indicated by our technical analysis: a downward correction to 1.6754-1.6580 is to be expected from 1.6957-1.7044, the cable (GBPUSD) is also above the channels and the oscillator is close to the over purchased area.


Nicolas Longchamp
RTFX Ltd
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