GBPUSD has been exhibiting a textbook Lower-High and Lower-Low since June of 2014.
The most recent lower-high was in April of 2018 and price made a lower-low in March of 2020.
Since March of 2020, price has been in an uptrend and has not made a lower high than the April 2018 high, IN FACT, price has reached the same high of April 2018.
This is a potentially decisive moment for the Pound's road to 1.50
My technical analysis shows divergence on the 12H TF, couple that with the BOE's decision to raise rates in 2022, there could be a good rally up for the Sterling.
IF price breaks over the high of April 2018, we could be looking at a strong uptrend.
Let me know what you guys think, I'm more than happy to hear a different opinion. <3
The most recent lower-high was in April of 2018 and price made a lower-low in March of 2020.
Since March of 2020, price has been in an uptrend and has not made a lower high than the April 2018 high, IN FACT, price has reached the same high of April 2018.
This is a potentially decisive moment for the Pound's road to 1.50
My technical analysis shows divergence on the 12H TF, couple that with the BOE's decision to raise rates in 2022, there could be a good rally up for the Sterling.
IF price breaks over the high of April 2018, we could be looking at a strong uptrend.
Let me know what you guys think, I'm more than happy to hear a different opinion. <3