( Fundamental Analysis ) - Bank and Institutional Closing their LONG Position and opening New SHORT Position on GBP, GBPUSD extremely overbought conditions to trigger fall, we can expect a Bearish Trend on GBPUSD in a week a head.
( Technical Analysis ) - The Price is at Strong Resistance - Wait for the Price action around 1.131320 - If Bearish candle confirm Open Short Position, If not just wait do not make trade
Rules - Risk 2% of your capital - Price Action! wait for confirmation candle
*This is for your trading reference only, trade at your own risk, don't forget your money management. Wish you a Profitable Trading, GBU .
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“The Relative Strength Index on the 4-hour chart is pointing to extremely overbought conditions, around 85. GBP/USD appears over-stretched also on the daily chart. Cable broke above the uptrend channel that had accompanied it since last week, but this move may prove unsustainable.”