ETHUSD Uncertainty
September 16, 2020
EURMXN Closing up to Support at 24.69
September 17, 2020
GBPMXN CHART PRICE – GBPMXN DAILY
The british pound has not been able to complete the breakout on the support level found in our fibonacci retracement, it should be time for the pound to change the trend as the relative strength index is on an oversold status, however it has been oversold for 5 trading sessions and we have not seen the expected trend change, the pair is up 0.26% in the session based on technical indicator the trend change should have happen 5 sessions ago, but there are fundamental factors influencing the price and driving it down, the moving averages are spreading out, and the bollinger bands are very wide indicating that the price is relatively low, until the fundamental factors have less weight on the pair it would be hard to make a proper prediction based on the technical indicators we have. For now let’s just wait for a clear signal as the price could start an uptrend or continue to plunge a bit more.
This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.
