Technical Analysis – GBPUSD finds a pivot point but will it turn up?
Posted on November 3, 2020 at 8:43 am GMTGBPUSD corrected backwards and below its shorter-term simple moving averages (SMAs) and the Ichimoku cloud, but the strong ascending trendline from May’s low of 1.2074 was there once again to support the market. The price printed a bullish hammer candlestick at that point on Monday, and it remains to be seen if it can stage an upside reversal in the coming sessions as the momentum indicators are somewhat conflicting at the moment. The RSI is beneath its 50 neutral mark, though marginally, [..]