Potential Rebound in the British Pound
After a period of strength for the GBP we have seen a recent pullback in price.
Selling pressure is though starting to wain and price is stabilising into an open cone shaped accumulation phase.
Rsi divergence shows the strength of sellers is declining and shows multiple bullish divergences.
Price is testing the bottom of the testing range and may rebound from here to test the upper levels of this range.
News coming in on US GDP and unemployment will likely be the catalyst for the next price move.
Selling pressure is though starting to wain and price is stabilising into an open cone shaped accumulation phase.
Rsi divergence shows the strength of sellers is declining and shows multiple bullish divergences.
Price is testing the bottom of the testing range and may rebound from here to test the upper levels of this range.
News coming in on US GDP and unemployment will likely be the catalyst for the next price move.
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