GBP/USD: Possible Retracement Before the Claimant Count Change
Updated
As explained in our last Idea GBP feels the resistance at level 1.1800 with a maximum area of reversal of 1.1825 and today, the price pair seems open the market with a possible reversal in this area of resistance where a confluence with the dynamic trendline of the bullish channel can be another clue of a possible reversal.
1.165 can be a possible point where the price can have a retracement today. The RSI shows a reversal from the overbought area with a divergence. Note: our Bias is long on this chart because our indicators show us a Bullish trend and tomorrow, for the GBP will the economic news about the Claimant Count Change, It's the first indication of the employment situation, released a month earlier than the Unemployment Rate, the forecast is positive for GBP so our Bias still LONG.
1.165 can be a possible point where the price can have a retracement today. The RSI shows a reversal from the overbought area with a divergence. Note: our Bias is long on this chart because our indicators show us a Bullish trend and tomorrow, for the GBP will the economic news about the Claimant Count Change, It's the first indication of the employment situation, released a month earlier than the Unemployment Rate, the forecast is positive for GBP so our Bias still LONG.
Note
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