GBPUSD - Need daily close above falling trend line
The bird is having a tough time getting through a larger falling trend line resistance noted at 1.4670. Amid falling brexit fears we have had a sharp rally in Cable, however, referendum is still at least 5- weeks away and a lot could happen by then.
Hence, makes sense to observe caution here. Also note a repeated failure to take out 1.4670 could result in a minor bearish move that would confirm a bearish price-RSI divergence on the 4-hour chart as noted earlier today.
Hence we have been saying the range of 1.4617-1.4670 is a No Man's Land
Hence, makes sense to observe caution here. Also note a repeated failure to take out 1.4670 could result in a minor bearish move that would confirm a bearish price-RSI divergence on the 4-hour chart as noted earlier today.
Hence we have been saying the range of 1.4617-1.4670 is a No Man's Land
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