A very bullish candlestick pattern has formed on the daily chart and usually creates an immediate reversal when it works. The pattern: Bullish Engulfing. This is a good sign for the future of GBP strength against the dollar. Current RS reading: GBP = 2, USD = 3. I like the area below price, deep within the engulfing pattern while RS values are close together.
Check out my relative strength analysis I post everyday on twitter @WhosTrend
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.
Check out my relative strength analysis I post everyday on twitter @WhosTrend
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.