The pound is back on the bull trend, after it broke all major resistance apart from the 1.267 one, after it filled its 1.5% gap.
Not breaking that resistance, being overbought, with declining volume and with big gap from the Moving average, my only potentially good trade would be to go long around 1.256 with a 2:1 R/R.
Good news came out of the UK this week, but...
The most logical path I could find based on current structure support // resistance levels. The divergence is merely marked because I find it interesting to watch on the RSI alone. I've backtested RSI divergence on smaller timeframes and they were relatively reliable in terms of minor retracements and larger reversals. Would have to combine with more data to...
