BabyPips.com FX-Men Team
BabyPips.com
GBP/USD: 4-hour
Cable is showing signs of hesitation around the 1.4600 major psychological handle, which is also near a 61.8% Fib and 200 SMA levels on the 4-hour time frame. This is convenient especially if you’re also watching the overbought Stochastic signal. What’s more, a close look at the candlesticks also reveal some wicked wicks, which are hinting that the bulls are having trouble chalking up more bullish candles. Are the bears about to take over the pair’s price action? Read up on entering trends with Fibs if you haven’t tried it yet!
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