As I expected yesterday GBP/USD could not remain above the resistance at 1.2650 and although it reached 1.27057 it then sharply moved to the downside>>>.
The RSI divergence between three highs on the H1 time frame was another signal that the move to the upside would end and that did happen.
In practice, the divergence reached its limit, which was at 1.25326, and at the moment the pair is at 1.25336.
It’s difficult to say what will follow next, since the pair is in a resistance zone visible on the daily time frame.
I think that if the move to the upside is renewed the expectation for it to reach 1.2750 remains valid.
On the other hand, the first support of a move to the downside is in the zone around 1.2430 – 1.2390.
I'll watch those levels, thank you.
ReplyDeleteGood review!
ReplyDeleteGreat assessment!
ReplyDeleteInteresting read.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteAs always, very detailed report.
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