EURGBP on the 4hr chart is mapping out a P wave. This is a Bullish Continuation Pattern.
The problem is, Price and Volume are at Divergence. To breakout , there needs to be considerable Volume.
The last 4 hr candle , with a upper shadow breaking the High on last Monday , was on low volume.
The RSI in consolidation continues to be Bearish with regular divergence.
The P wave is an inducement for traders to go long, but this can't be right when Volume and
Momentum are against it.
The problem is, Price and Volume are at Divergence. To breakout , there needs to be considerable Volume.
The last 4 hr candle , with a upper shadow breaking the High on last Monday , was on low volume.
The RSI in consolidation continues to be Bearish with regular divergence.
The P wave is an inducement for traders to go long, but this can't be right when Volume and
Momentum are against it.
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