GBPUSD Ranging, expecting a bounce soon
Approaching/Sitting just above lower bband with STOCH RSI slightly oversold and RSI approaching oversold territory (At ~38)
Not much to interpret from volume other than its remained consistent, doesn't seem to be dying or picking up much
Also, sitting just on a bullish OB
Therefore, expecting a bit more downward movement to ~1.27, maybe range in this OB for a while
before a bounce to the top of the band/Bearish OB at ~1.3
Looking for an uptick in volume as we range before being convinced of a significant bounce, though, as Stoch RSI still remains bearish
Also, clearly in a range between ~1.262 * ~1.32 so it would make sense to touch/ come very near to support of this range before making a move back to the top
Not much to interpret from volume other than its remained consistent, doesn't seem to be dying or picking up much
Also, sitting just on a bullish OB
Therefore, expecting a bit more downward movement to ~1.27, maybe range in this OB for a while
before a bounce to the top of the band/Bearish OB at ~1.3
Looking for an uptick in volume as we range before being convinced of a significant bounce, though, as Stoch RSI still remains bearish
Also, clearly in a range between ~1.262 * ~1.32 so it would make sense to touch/ come very near to support of this range before making a move back to the top
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