GBP/USD: The pair is trading with clear dovish bias; however, the momentum seems to be weak compared to the previous session’s decline as price action indicates a clear oversold scenario. But firm USD supported by Fed QE measures keeps GBP from seeing any gains trapping price below the mid-1.25 handle. Traders now await fresh updates from the US market for short term profit opportunities.
Let us know if you liked the post. That’s the only way we can improve.