GBPUSD-Bearish Engulfing @ 1.3250/ Price RSI Divergence + Brexit
The price I looked at 1.3250
The price action (reaction): a) bearish engulfing candle b) Kind of triple top formed c) Weekly range projection have been hit hence technical bias shifts into retracement/reversal
Technical Indicators: Price-RSI showed a divergence between RSI and Price
Looking Ahead: I rely on fundamentals/sentiment (if possible). If next week, no more good development on the Brexit issue, I am anticipating the Sterling should have it's correctional move (red arrow) and hit the levels I marked at pink lines (Boomerang Levels). If any good development on the Brexit issue, potentially GBPUSD could rally as illustrated by the blue arrow
The price action (reaction): a) bearish engulfing candle b) Kind of triple top formed c) Weekly range projection have been hit hence technical bias shifts into retracement/reversal
Technical Indicators: Price-RSI showed a divergence between RSI and Price
Looking Ahead: I rely on fundamentals/sentiment (if possible). If next week, no more good development on the Brexit issue, I am anticipating the Sterling should have it's correctional move (red arrow) and hit the levels I marked at pink lines (Boomerang Levels). If any good development on the Brexit issue, potentially GBPUSD could rally as illustrated by the blue arrow
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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.