Just be succinct: "We need to write something to get paid, and we really have no idea what will happen, otherwise we'd be traders, so we'll say that it might go up, or it might go down."
GBPUSD still in bearish correction mode; maintains weak bias in near term
GBPUSD has been holding in a short-term valid descending trend line since January 25. The pair struggled below the 20 and 40 simple moving averages near 1.3900 and 1.3960 respectively. The bearish correction seems to still be in progress, however, the technical indicators are holding in a neutral territory. In the daily timeframe, the MACD oscillator jumped above its trigger line and posted a bullish crossover but is still standing below the zero line. Moreover, the RSI is flattening near the 50 level with no clear signal for further upside or downside move in price action. In case of a penetration below the 23.6% Fibonacci ... (full story)
- Posted: Mar 13, 2018 7:11am
- Submitted by:Category: Technical AnalysisComments: 1 / Views: 1,244