The GBPUSD has reached a very important area in terms on structure, so now the question is, is it time to sell? Now we have 2 advanced pattern, a cypher pattern which is just a few pips away from being completed and a bat pattern which will complete right above the descending trendline resistance. Our RSI is just below the overbought conditions so the best scenario is to wait until the cypher pattern completes and then wait to see if our RSI is overbought before taking a short position.
Watch my brand new video to see in depth analysis on this pair and also the trend continuation trade on the USDCHF.