Clive Lambert from FuturesTechs (https://www.youtube.com/watch?v=dHxUAZHCzKw ) presented his view on British Pound on other major markets on today’s ‘London Open Finance Show’.
Clive takes note of a candle on GBP/USD candle chart – yesterday’s candle engulfed previous 4 red candles plus the open-low and close/high were same. The candle stick pattern suggests a technical correction ahead in Cable.
A pull back is also expected in EUR/GBP courtesy of a price RSI/MACD divergence.
From our side.. A technical correction in GBP/USD in the pair would gather pace once the spot sees a convincing break above 1.3056 (July 26 low).