As we can see on the graph above, GBP/USD has been sliding without any major correction. Also looking at the RSI, we can see very clear that this big move has been in one way street. However, buy looking first at the RSI, I added a trend line at 2010 low and 2013 low put a extension to see where it will end and we are touching that line right now (red line).
Now looking at the graph, I added 2 trend line (dotted lines) connecting with important tops. Looking at those 2 lines, we are in a very interesting position.
In my opinion, I think we can see a pullback and probably touch 1.5900 in coming day.
On the other hand, looking the long term graph (monthly), 1.5200 still in the cards!
Now looking at the graph, I added 2 trend line (dotted lines) connecting with important tops. Looking at those 2 lines, we are in a very interesting position.
In my opinion, I think we can see a pullback and probably touch 1.5900 in coming day.
On the other hand, looking the long term graph (monthly), 1.5200 still in the cards!
