Menu Close

#GBPUSD, bearish sentiment too extreme!

Piggy backing on the USD Index post, Cable looks extremely oversold and could be getting ready for a reversion back to its mean. We would be buyers on signs of a daily reversal. Initially we would deploy half our normal position sizing as the move is counter trend and by default a higher risk trade. Potential reward/risk profile looks attractive IF we get the first daily reversal.

#GBPUSD Daily and 4hr chart