The graph has just formed a morning star
as the price touches the support level
of the bearish channel
and the price was also touching the oversold level on the RSI
. This means that the price is getting ready to change direction and we might see bullish
moves over the coming days. This pair has been looking very interesting lately after the BOE (Bank of England) announced that they are likely to increase interest rates over the coming months. An interest rate hike could see some significant bullish
gains for this currency pair, I would be updating this frequently yo keep everyone up-to-date with what is happening with the interest rate hike. If anyone has any questions please feel free to ask.