Following on from the winning Gartley
yesterday we can now see a bearish Cypher
set up with some strong indicators adding credibility to the trade. In order to become a losing trade it must first break through some heavy resistance and RSI
shows a paid that is already looking over bought. The bearish
direction of this cypher
set up would follow the longer term trend on the higher timeframes and with a poor GBP sentiment in particular at the moment I struggle to see a significant upside to the cable particularly with most US data in recent days falling within expectations.