GBP Overbought!
Updated
( Fundamental Analysis )
- Bank and Institutional Closing their LONG Position and opening New SHORT Position on GBP, GBPUSD extremely overbought conditions to trigger fall, we can expect a Bearish Trend on GBPUSD in a week a head.
( Technical Analysis )
- The Price is at Strong Resistance
- Wait for the Price action around 1.131320
- If Bearish candle confirm Open Short Position, If not just wait do not make trade
Rules
- Risk 2% of your capital
- Price Action! wait for confirmation candle
*This is for your trading reference only, trade at your own risk, don't forget your money management. Wish you a Profitable Trading, GBU .
- Bank and Institutional Closing their LONG Position and opening New SHORT Position on GBP, GBPUSD extremely overbought conditions to trigger fall, we can expect a Bearish Trend on GBPUSD in a week a head.
( Technical Analysis )
- The Price is at Strong Resistance
- Wait for the Price action around 1.131320
- If Bearish candle confirm Open Short Position, If not just wait do not make trade
Rules
- Risk 2% of your capital
- Price Action! wait for confirmation candle
*This is for your trading reference only, trade at your own risk, don't forget your money management. Wish you a Profitable Trading, GBU .
Note
“The Relative Strength Index on the 4-hour chart is pointing to extremely overbought conditions, around 85. GBP/USD appears over-stretched also on the daily chart. Cable broke above the uptrend channel that had accompanied it since last week, but this move may prove unsustainable.”
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