The pair is rebounding and consolidating at 1.6400, after a monthly low at 1.6272 dollars per pound. The pair is making an upwards move of 170 pips, after meeting a resistance at the MA at 1.6426 dollars per pound.The bands of Bollinger are showing a volatility of 240 pips in the hour, while the 14 period RSI is around the oversold area.

The MACD and Stochastic could show selling signs in the next hour.

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