GBP/USD warns of a stronger rally attempt
What makes the higher settlement in the ADX rare -although not unprecedented- is the fact that it was printing below 35 ten hours ago.
Such an outperformance encourages momentum traders to pile in, and adjust positions by means of trailing stops. This may have the opposite effect of a corrective slide, driving the prices towards the 200-hour SMA to find less impulsive buyers.
Author

FXStreet Algorythms
FXStreet

















