GBP/USD: Upcycle shows cracks as trendline violated
The breakout of the ascending trendline has come amid increasing tick volume ahead of this week's crucial Brexit summit.
If you are going to trade the Sterling, be aware that you will be facing a headlines feast, with volatility to pick up significantly.
The breakout of the trendline is only validated by the lower moves in the UK-US 10yr yield spread and DXY performance.
While not confirmed yet, the pair is transitioning from an hourly upcycle into range-bound conditions.
On the daily timeframe, however, an upcycle is still playing out, so be cautious to be a seller at oversold conditions.
If you are going to trade the Sterling, be aware that you will be facing a headlines feast, with volatility to pick up significantly.
The breakout of the trendline is only validated by the lower moves in the UK-US 10yr yield spread and DXY performance.
While not confirmed yet, the pair is transitioning from an hourly upcycle into range-bound conditions.
On the daily timeframe, however, an upcycle is still playing out, so be cautious to be a seller at oversold conditions.
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🧑🏫🧑🏫 Author of the #1 Order Flow Script:
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