So GBP has been shit lately. And frankly, it deserves to be, with the hopeless negotiatiors of the Brexit team.
After the fall I've hypothesized about a rebound, but more and more it looks like this might turn into a proper downtrend.
- Downtrend channel with current consolidation precipitating another bearish impulse
- RSI and Stochastic trending lower, perhaps showing that there is enough space for another move down
- MAs constitute a proper downtrend confirmation with expanding delta between lower and higher MAs
After the fall I've hypothesized about a rebound, but more and more it looks like this might turn into a proper downtrend.
- Downtrend channel with current consolidation precipitating another bearish impulse
- RSI and Stochastic trending lower, perhaps showing that there is enough space for another move down
- MAs constitute a proper downtrend confirmation with expanding delta between lower and higher MAs
Note
So we went down a bit yesterday according to plan, but it looks like GBP might be consolidating at these levels for a little while more. Only time will tell.
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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.