GBP/USD – no respite… despite oversold intraday indicators

The pair respected the falling trend line resistance yesterday and since then has been on a way route to 31-year lows.

The selling is so intense that technical correction does not last more than 20-pips.... this despite being oversold on 4-hr and hourly time frame.

Anyone out there who intends to go long on Sterling should ideally wait for a breach of the falling trendline or for a bullish price-RSI divergence.