GBPUSD may be starting a medium term short phase with the dollar strength index (DXY) being oversold on the 4 hour chart. We are seeing a synced trend here with the FX majors. Technically the 4 hour RSI has been overbought recently and actually has not been that overbought since May 2021 which is a good signal. Momentum oscillators are showing bearish momentum here for a short trade.
Trade closed: target reached:
closed