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GBP/USD Major Behavior Change

GBP/USD Major Behavior Change

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

GBP/USD Major Behavior Change

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“The sharp turn higher (and weekly reversal) is promising for longer term bottoming prospects, especially in light of the mentioned divergence.”

-“GBPUSD is made good on its divergence and daily RSI poked above 70 for the first time since the top last July.” The recently broken parallel is now estimated support near 1.5490. The red parallel may provide resistance near 1.5785.

For more analysis and trade setups, visit SB Trade Desk

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