United States Durable Goods Orders:
The volume of short positions in GBP/USD has partially recovered after a rally on September 23. The price reversed from the 23.6% Fibo level that is also seen as resistance.
A drastic price change in the short term has caused an overbought status in the market. The signal is also confirmed by the Relative Strength Index (RSI) that jumped by 80 pips. Amid the recovery of the greenback, the indicator returned below 50.
Outlook:
Amid a corrective move in the market, the price may go to the swing low of 1.3600 as of August 20. A sell signal may be generated when the quote consolidates below 1.3650.
In terms of complex indicator analysis, technical indicators are making a sell signal for short-term and intraday trading.