[EN] GBPUSD long term trend // GaliortiTrading
After failing to break above the 200 session average (summer 2014)
GBPUSD
is still dominated by its long term bearish trendline (2007).
Despite the bullish RSI divergence
GBPUSD
was not able to restructure to the upside and developed a double top executing its target in September last year. The strong recovery since then failed to break above its long term downtrend line.
The loss of 1.20 would be a very bearish signal and would open the door to new lows in the 1.02-1.00 area. Above the latter prices, the stock could restructure to the upside.
Pablo G.
GBPUSD
is still dominated by its long term bearish trendline (2007). Despite the bullish RSI divergence
GBPUSD
was not able to restructure to the upside and developed a double top executing its target in September last year. The strong recovery since then failed to break above its long term downtrend line. The loss of 1.20 would be a very bearish signal and would open the door to new lows in the 1.02-1.00 area. Above the latter prices, the stock could restructure to the upside.
Pablo G.