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michaeldobfx

Waiting for reversal - Uptrend channel and RSI being overbought

Short
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
michaeldobfx  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Trend Lines Parallel Channel GBPUSD GBP USD Coronavirus (COVID-19) short overbought
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trendanalysis trendline parallelchannel gbpusd gbp usd coronavirus short overbought
GBP/USD is approaching a crtiical point as the RSI shows it is seriously overbought now. It's fair to assume a correction will take place, once price touches the upper trendline around 1.29 level. Note: Pay attention to USD strength - the weaker the USD, the more likely for there to be a break above the upper trendline.

NOTE: Not professional investment advice. I will not be held accountable for any losses.
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