Lastly, we have the GBP/USD
. This pair is in a large downtrend like so many other currencies right now. Like many other pairs GU is on the back of global coronavirus-related uncertainty. This pair however has created new market lows (1.14502) surpassing the previous market low which occured October 2016 (1.16496). The Market is also currently over-sold on the RSI
indicator (17.54) on the 4HR chart which Is giving me an indication that this pair could be moving to the upside very soon!
For this reason, I'll be looking for possible long trades within the next couple of hours, days with a very high R/R ratio.