GBPUSD - Analysis, potential 'Sell' order
Monday, London's session at 08:00 GMT:
RSI: In the overbought zone, above 70%.
Bollinger Bands: Signalling a possible 'Sell' opportunity.
EMA 55: The market appears to have reached its peak.
I see an opportunity to enter a 'Short' trade here.
PS: This is my own strategy and backtesting the results.
RSI: In the overbought zone, above 70%.
Bollinger Bands: Signalling a possible 'Sell' opportunity.
EMA 55: The market appears to have reached its peak.
I see an opportunity to enter a 'Short' trade here.
PS: This is my own strategy and backtesting the results.
Trade closed: stop reached:
The market reacted to the news and not in my favour. SL triggered and the position was closed.
I consider both Daily and H4 charts when conducting my analysis, and I see that both charts are in alignment, indicating that the market is in an overbought zone.
The candlesticks formation on the charts suggests a potential reversal.