GBP/USD: Long-term downtrend, middle-term uptrend
Double top at levels 1.2955 as the price broke below the neck line - the figure is activated
The price goes below EMA 50 - primer signal ( but still weak) for possible reverse of the middle-term movement
Price action signal: Engulfing bar with potential for decrease
Indicators in negative territory : CCI(50) goes below 0 for the first time since 11.04.2017, giving us signal for possible decrease
RSI goes below 0, also negative signal
Negative formation is still on , until the price is below 1.2863
Alternative scenario: Going of the price above 1.2955 will confirm a upward movement
Stefan d.Angelov - Head of Stocks Trading
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