Technical:
1. Testing the 0.5 Fib Retracement level.
2. Testing trendline resistance.
3. RSI 4H touched lev 70
Fundamentals:
GBPUSD was very strong last week, as supported by the increase in UK employment.
Even the market ignored the actual FOMC meeting to mention the potential monetary amount the FED could reduce for its monthly bond purchases.
Maybe in the next 2 weeks GBPUSD will form a base around 1.3800-1.3650 and the next trend will be determined by the tappering plan which may be announced on November 4.
But I prefer to sell and wait for the price to drop to 1.3350.
Beware of the price touching 1.3800-1.3880 and use good money management.
1. Testing the 0.5 Fib Retracement level.
2. Testing trendline resistance.
3. RSI 4H touched lev 70
Fundamentals:
GBPUSD was very strong last week, as supported by the increase in UK employment.
Even the market ignored the actual FOMC meeting to mention the potential monetary amount the FED could reduce for its monthly bond purchases.
Maybe in the next 2 weeks GBPUSD will form a base around 1.3800-1.3650 and the next trend will be determined by the tappering plan which may be announced on November 4.
But I prefer to sell and wait for the price to drop to 1.3350.
Beware of the price touching 1.3800-1.3880 and use good money management.
