The GBP/USD h entered in a resistance zone on a 30 minute time frame. The pair has pierced the Bollinger band at this level which means that the volatility for the pair is high. The piercing of the Bollinger band does have a significant importance when this takes place at an important level of support or resistance because this could reverse or pause the current trend.
However, the price has broken its downward channel which represents the strength for the price. At the same time, we have the RSI and the CCI indicators which are pointing for a correction.Read More