Bounce off upper trendline?
I've been having a look at the EUR GBP 30M chart.
Seems like there might be a move down coming soon. Reasons for this idea:
- upper trendline retested several times
- in the current area there is the FIb 1.618 of the past down move
- RSI overbought
- Divergence on the RSI
- Price broke through the upper BB = overbought
Target could be the Fib 0,382 which lines up with the lower trendline.
Seems like there might be a move down coming soon. Reasons for this idea:
- upper trendline retested several times
- in the current area there is the FIb 1.618 of the past down move
- RSI overbought
- Divergence on the RSI
- Price broke through the upper BB = overbought
Target could be the Fib 0,382 which lines up with the lower trendline.
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