GBP/USD – bearish move is gathering steam
The bearish price RSI divergence, gravestone Doji followed by a breach of the small rising channel to the downside, coupled with the breach of the rising trend line on the RSI suggests the pair has topped out and could test the larger rising trend line support seen around 1.27 levels today.
On the higher side, today’s high of 1.29 is likely to offer strong resistance.
Only a daily close above 1.30 would revive the bullish view.
On the higher side, today’s high of 1.29 is likely to offer strong resistance.
Only a daily close above 1.30 would revive the bullish view.