GBPUSD Ranging, expecting a bounce soon
Approaching/Sitting just above lower bband with STOCH RSI slightly oversold and RSI approaching oversold territory (At ~38)
Not much to interpret from volume other than its remained consistent, doesn't seem to be dying or picking up much
Also, sitting just on a bullish OB
Therefore, expecting a bit more downward movement to ~1.27, maybe range in this OB for a while
before a bounce to the top of the band/Bearish OB at ~1.3
Looking for an uptick in volume as we range before being convinced of a significant bounce, though, as Stoch RSI still remains bearish
Also, clearly in a range between ~1.262 * ~1.32 so it would make sense to touch/ come very near to support of this range before making a move back to the top
Not much to interpret from volume other than its remained consistent, doesn't seem to be dying or picking up much
Also, sitting just on a bullish OB
Therefore, expecting a bit more downward movement to ~1.27, maybe range in this OB for a while
before a bounce to the top of the band/Bearish OB at ~1.3
Looking for an uptick in volume as we range before being convinced of a significant bounce, though, as Stoch RSI still remains bearish
Also, clearly in a range between ~1.262 * ~1.32 so it would make sense to touch/ come very near to support of this range before making a move back to the top
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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.