GBPUSD-Bearish Engulfing @ 1.3250/ Price RSI Divergence + Brexit
The price I looked at 1.3250
The price action (reaction): a) bearish engulfing candle b) Kind of triple top formed c) Weekly range projection have been hit hence technical bias shifts into retracement/reversal
Technical Indicators: Price-RSI showed a divergence between RSI and Price
Looking Ahead: I rely on fundamentals/sentiment (if possible). If next week, no more good development on the Brexit issue, I am anticipating the Sterling should have it's correctional move (red arrow) and hit the levels I marked at pink lines (Boomerang Levels). If any good development on the Brexit issue, potentially GBPUSD could rally as illustrated by the blue arrow
The price action (reaction): a) bearish engulfing candle b) Kind of triple top formed c) Weekly range projection have been hit hence technical bias shifts into retracement/reversal
Technical Indicators: Price-RSI showed a divergence between RSI and Price
Looking Ahead: I rely on fundamentals/sentiment (if possible). If next week, no more good development on the Brexit issue, I am anticipating the Sterling should have it's correctional move (red arrow) and hit the levels I marked at pink lines (Boomerang Levels). If any good development on the Brexit issue, potentially GBPUSD could rally as illustrated by the blue arrow