GBP/USD Analysis – Can Bears Close Below 1.2700?

GBPUSD-Technical Analysis

GBP/USD price action remained suppressed as recent development around Brexit remain uncertain. Chances of a “no deal” seems to have increased according to investment banks. RSI divergence points for a possible short term reversal if a Brexit catalyst allows for it.   GBP/USD price action remains subdued and in consolidation. Furthermore, the RSI divergence indicates the probability of a short Read More …

EUR/USD Technical Analysis – Reverse Head and Shoulders Pattern Closer to Completion

EURUSD-Technical Analysis-Reverse Head and Shoulders Pattern

  EUR/USD could reverse on potential reverse head and shoulders pattern. RSI is indicating a divergence that needs to be completed by a price breakout. High volume on the right of the pattern is supportive of correction thesis.     While the EUR/USD has been slipping downwards during the last couple of months several indications show that the end could Read More …

EUR/USD Technical Analysis – Possible Head And Shoulders Reversal Pattern

EUR/USD Technical Analysis

    Mario Draghi’s speech earlier today was uneventful. Italy’s decision to consider lower deficit budget target has eased tension. Possible head and shoulder reversal pattern in development.   Overview     During the last couple of days the EURUSD pair has been consolidating in a narrower range. Earlier today during London session hours, the ECB president made his speech Read More …