GBP/USD posted a key reversal up on Moday as it consolidated some of Friday's decline. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but are turning neutral hinting that a short-term bottom might be in or is near. Closes above the 10-day moving average crossing would confirm that a short-term bottom has been posted. If it extends this today's rally, the reaction low crossing is the next downside target.
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