GBPUSD
Looks overbought and can make quick 20-25 pips profit.
- The pair advanced up to 1.2300 level, but quickly retraced and in the 4 hours chart
- Still risk remains towards the downside, as the 20 SMA has accelerated its slide far above the current level
- The RSI indicator resumed its decline after a modest upward correction from oversold readings. The Momentum indicator in the mentioned chart also stands well below its mid-line
- Brexit not far away and uncertainties surrounding the U.K.’s departure may continue to foster a bearish outlook for the British Pound
As usual I'm in for 20-25 pip profit. Ride with me!
Comment:
- Having said this, the Fed Chair Yellen's Speech due shortly could trigger unknown further up/down movement
Trade closed: target reached:
Target reached and closed.
Hope you guys made some good pips on this trade
Hope you guys made some good pips on this trade
