Here on the GBPUSD
, i am still looking for further confirmation to take this trade. Price is currently in a bullish channel
but is currently lacking buying volume
and failing to reach any new Hi's above the major resistance level
@1.29830 level. this may be due to exhaustion of buyers in market leading to greater selling pressure. Also the MAC-D line is about to cross over the signal line which is another 'SIGN' of a potential Bearish
outbreak. I will only use the MAC-D to support ideas, never to trade purely based on that.
I am hoping to see more rejection of this major resistance level
followed by a gradual decline in price.