GBP/USD is rallying for a while and we all are hoping that, it’ll continue rally. But I think, if the pair want to go further upside, it needs to breath for a while.
I have analysed the pair for Daily time-frame and what I have found out is the pair is now tired and need to gather some potential energy for further kinetic energy.
The price is now at the top of a pitchfork and the interesting matter is the 38.2 Fibonacci Retracement Level is at 1.4000 psychological Level which is a nice confluence. Further more, the StochRSI is extremely overbought.
I believe, the pair will come back to 1.4000 level before it start rallying towards 1.4600 level, which gives us a nice 1.70 risk-reward trade.
Please Share this to encourage my work. 🙂
I’ll provide more…