Following on from the winning Gartley yesterday we can now see a bearish Cypher set up with some strong indicators adding credibility to the trade. In order to become a losing trade it must first break through some heavy resistance and RSI shows a paid that is already looking over bought. The bearish direction of this cypher set up would follow the longer term trend on the higher timeframes and with a poor GBP sentiment in particular at the moment I struggle to see a significant upside to the cable particularly with most US data in recent days falling within expectations.
Good luck
Good luck