GBP/USD Heads Towards 1.33, Entering Overbought Territory
Overall, Tuesday has been a profitable day with two profitable long positions in the GBP/USD and DAX. The only loser was the EUR/USD where we had to record a losing trade with our buy attempt.
GBP/USD: Sterling bulls should be careful since the pair entered overbought territory, making corrections more likely now. However, if the cable can hold above 1.3180, we could see further gains towards 1.3450. Below 1.3170, bears are back in control.
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