GBP/USD Larger Momentum Profile Warns of Turn Higher

By DailyFx | Updated August 05, 2014 AAA -


GBP/USD Larger Momentum Profile Warns of Turn Higher

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-GBPUSD sold off sharply after registering a weekly RSI reading above 70. Weekly RSI is now at its lowest reading since last August! Price wise, the February high acted as support at the recent low. A larger uptrend is still in place against 1.6690.

--Tradingideas are availabletoJ.S. Trade Desk members.

You May Also Like

Related Forex Analysis
  1. Forex News

    GBP/USD might turn bearish in March – EW-Forecast

  2. Forex News

    GBP/USD keeps 1.5400 on UK-data

  3. Forex News

    GBP/USD Candlestick Analysis: Standstill Sub-1.55 Continues

  4. Forex News

    GBP/USD bearish below 1.5410 – Vladimir Mihaylov

  5. Forex News

    GBP/USD could breach rising channel on weak UK PMI – FXStreet

Trading Center