GBPUSD: The Next Step
The orange line I marked is the support line for the price.
As we can see, the price has been rising for a while. The upward trend was fluctuating, which made all traders nervous.
Would the price follow the support line?
The Bollinger Bands have remained in the same width since the price entered an upward trend. This situation could tell us that the price may not breakout soon.
The volume went low, traders are not confident with either side.
The MACD is about to make a bullish cross, this could be a signal for short time only, let’s say, a small peak.
Let’s wait for more signals.
As we can see, the price has been rising for a while. The upward trend was fluctuating, which made all traders nervous.
Would the price follow the support line?
The Bollinger Bands have remained in the same width since the price entered an upward trend. This situation could tell us that the price may not breakout soon.
The volume went low, traders are not confident with either side.
The MACD is about to make a bullish cross, this could be a signal for short time only, let’s say, a small peak.
Let’s wait for more signals.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.