GBPUSD - retracement
Looks like the price has finally managed to gain enough momentum to be able to try and push out the bearish channel, this could mean its time for a retracement as the pair looks to be in an oversold area (RSI). If the price does retrace it is most likely to retrace to the neckline of the double top and bounce downwards. If this happens we would see significant bear moves. I would keep everyone updated with this currency pair over the coming days.
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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.