GBPUSD Top Forming?
GBPUSD has had a large leg up but may be forming a top, with RSI oversold on all levels up to the 4H.
A huge run-up and potential blow-off top is forming on the lower timeframes after a big trend day yesterday, this type off excess volatility is a signature of potential reversal.
On the 1H we've just seen alarge inverted hammer form, another signal of potential reversal.
While this isn't a high probability play (as picking a top in a trend never is), it's certainly a high risk/reward play.
A huge run-up and potential blow-off top is forming on the lower timeframes after a big trend day yesterday, this type off excess volatility is a signature of potential reversal.
On the 1H we've just seen alarge inverted hammer form, another signal of potential reversal.
While this isn't a high probability play (as picking a top in a trend never is), it's certainly a high risk/reward play.
discord.gg/mFYvr2bGtu - FREE Trading Chat Rooms
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.