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Back Technical analysis
GBP/USD – Smart Money Analysis: The Pound's Recovery Remains Limited
GBP/USD was in a period of
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GBP/USD was in a period of almost uninterrupted decline for eleven days, but for more than a week it has been making repeated attempts to begin a corrective recovery. At present, the bearish imbalance 30 is preventing any meaningful correction and is acting as a resistance zone for the price. There are currently few factors supporting a sustained recovery by bullish traders. The liberation war in Yemen began over the weekend, while the market's reaction to Friday's Nonfarm Payrolls report
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