The currency pair GBP/USD has been in a strong downtrend since the beginning of the year. Our STS_ATR_Distance_Indicator shows that from the beginning of the month we have passed 83% of the Monthly ATR (Average Monthly movement for the last 6 months). Our STS_RSI_MTF_Indicator shows oversold conditions on all timeframes from H4 to Monthly, with extremely low values. We are nearing a support zone around 1.22 where we expect the price to turn upwards.
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