A repeated Price Action Pattern (this time a reversal)

FX:GBPUSD   British Pound / U.S. Dollar
My recent post regarding price action and how you can determine changes in the direction was recently shown, showing a doji followed by a pin bar which turned into a bullish candle. Since then price has oscillated and not taken any momentum in direction.

The same is for today where a doji followed by a decent sized bearish candle indicating downward movement. The RSI and WaveTrend indicate direction towards the South end. Again I will advise traders to trade cautiously on Sterling for the next week or so....


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