GBPUSD has been on the rise this past week. The pair has risen over 350 pips from the 21st June lows.
Technicals The momentum of this move is strong, it will need some time to form a base before a reversal can happen. The RSI showing overbought situation, hence I believe there will be a pause in the rise at this point of time.
Pattern Identification Bearish Shark pattern completing at 1.2959/77.
Note : BOE Governor, Mark Carney has signalled that rate hikes may be coming relatively soon. Setting the stage for an exciting meeting in August
Comment
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Still not in the trade. There are no reversal candles or patterns at the PRZ. The pair showing all the warning signs, the price just bashed through the PRZ.