The RSI has reached it low stating that the pair is oversold, we can expect buyers to come in now.
The pair is also approaching a major support
USA is also releasing some economic news later today:
-Core Retail Sales m/m( Forecast:5.0% ; Previous: 12%) 'Actual' greater than 'Forecast' is good for currency; vice versa
-Retail Sales m/m ( Forecast: 5% ; Previous:17.7%) 'Actual' greater than 'Forecast' is good for currency; vice versa
-if the actual is going to be lower than the previous when the stats are released we can see the USD fall and the GBP will rise
The pair is also approaching a major support
USA is also releasing some economic news later today:
-Core Retail Sales m/m( Forecast:5.0% ; Previous: 12%) 'Actual' greater than 'Forecast' is good for currency; vice versa
-Retail Sales m/m ( Forecast: 5% ; Previous:17.7%) 'Actual' greater than 'Forecast' is good for currency; vice versa
-if the actual is going to be lower than the previous when the stats are released we can see the USD fall and the GBP will rise
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