GBPUSD Uptrend Confirmed

GBPUSD CHART PRICE – GBPUSD DAILY

After struggling for more than 3 weeks against the mexican peso, the pound finally recovered a very good amount of the previous loses, currently it has a 2.86% gain on today’s session, we anticipate that this uptrend could last a few more days since the relative strength index is at 56% and traders are still going long, we see that the bollinger bands got very wide indicating high volatility, the price is getting closer to the Ichimoku cloud which is a good sign for uptrend since the cloud is moving in an upwards direction. It might take a few days before the moving averages start to get closer together since it’s a lagging indicator we have set 20 and 40 periods for the short and long term respectively.

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.