GBPUSD Cluster Chart 10-18-16

18 באוק׳ 2016

PA is bouncing up due to a very strong need for momentum correction as can be seen in the divergence in the RSI. BUT, there is still a very strong cluster right at 1.20 and I believe PA should go up a bit more to re-test swing highs and finish the correction before dropping back down to take out the 1.20 cluster.