GBPUSD is going parabaloic since the 18th of May.
A former resistance was broken (the green bar).
But a more massive HTF resistance is ahead ... and we just tapped the bottom of that resistance.
We are also overbought on the RSI + there is a bearish divergence on the 4H ...
Chances are high that we will not break this resistance and pull back for a while.
A former resistance was broken (the green bar).
But a more massive HTF resistance is ahead ... and we just tapped the bottom of that resistance.
We are also overbought on the RSI + there is a bearish divergence on the 4H ...
Chances are high that we will not break this resistance and pull back for a while.