GBPUSD Attempts to Pare Losses 2021-01-05

The British pound sterling is posting modest gains on Tuesday following the strong sell-off on Monday. But price action remains subdued in comparison to Monday’s prices.

The Stochastics oscillator remains near the oversold levels. However, this bias remains mixed.

To the downside, the support area near 1.3500 is likely to come in as support.

To the upside, for the uptrend to continue, GBPUSD will need to rise above the previous highs near 1.37.

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