GBPUSD Lost Its High of the Year

GBPUSD CHART PRICE – GBPUSD DAILY

The british pound reached its highest level since December 31st 2019 shortly after it reached 1.3267 it started to descend and currently it trades in the 1.31 levels, we had to adjust the fibonacci retracement to this new high and now find that the price could drop all the way to the 1.307 levels in the next few days since we see that the Relative Strength Index is now at 67% and continuing to get lower, the bollinger bands are closing up but they are still very wide, while the moving averages are indicating that the uptrend should continue and the price trades way over the Ichimoku cloud we are seeing the opposite in today’s session.

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.