broke the support as I expected and noticed in my previous post about GBP/USD
, you should check it out, and now it forms some interesting patterns. The Fibonacci retracement
of .38 is about to be confirmed and I am inclined to believe so because of the RSI
and price divergence. Usually, patterns like triangles are being broken between their 60th and 90th percent of their full length. Even so, there are already 2 closed candles above the previous resistance line, overbought RSI
, Fib Level and the divergence all predicting a bullish
market. And last but not least, we should not overlook the fact that the volume
is much greater on up than on down candles.