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GBPUSD lays foundation for an upside reversal
video GBPUSD built the foundation for a new bullish wave after completing a morning star candlestick pattern with a tall green candle on Monday. The cheering setup occurred near the surface of the broken descending channel, which acted as a lifesaving support this time, and around the previous low of 1.3570, further endorsing the case for an upside reversal. In momentum indicators, signals are encouraging as well given the clear rebound in the RSI and the Stochastics, though the former has yet to climb above its 50 neutral mark, while the MACD remains below its red signal line despite somewhat easing its negative ... (full story)
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