The picture on GBP is clearer. It reached the upper band of the red channel and there is a support line underneath this climb which I showed with orange. It may continue its climb although it looks overbought and shows a clear negative divergence. If it breaks down the support line, the target would be 200pips below these levels. Will it make it or break it? We will see very soon. Hope it helps.
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Wednesday, 1 May 2013
Euro and Sterling still strong
The picture on GBP is clearer. It reached the upper band of the red channel and there is a support line underneath this climb which I showed with orange. It may continue its climb although it looks overbought and shows a clear negative divergence. If it breaks down the support line, the target would be 200pips below these levels. Will it make it or break it? We will see very soon. Hope it helps.
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