Monthly - Double Top
Weekly - Bearish Divergence. Doji Candle
Daily - Bearish Engulfing
4H - Near bottom Trendline.
Price at Monthly double top neckline. Weekly showing Doji Candle with major wick (bearish momentum). Daily was a full Bearish Engulfing. 4H closed near Trendline. Expecting Bearish move back into neckline zone.
Bank of England interest rate update was increased to help combat inflation. Inflation is currently 5% with 2% target for GBP.
Due to that should see a decrease in value for GBP.
Weekly - Bearish Divergence. Doji Candle
Daily - Bearish Engulfing
4H - Near bottom Trendline.
Price at Monthly double top neckline. Weekly showing Doji Candle with major wick (bearish momentum). Daily was a full Bearish Engulfing. 4H closed near Trendline. Expecting Bearish move back into neckline zone.
Bank of England interest rate update was increased to help combat inflation. Inflation is currently 5% with 2% target for GBP.
Due to that should see a decrease in value for GBP.
