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GBP/USD Should Breath Lower Before Further Rally: 26th January, 2018

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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. 🙂

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