GBPUSD NOT GOING FOR NEW HIGH
DATE:20/04/2014
RENKO CHART:
Double top forming
CANDLESTICK
Bearish gravestone doji on Thursday is ominous, considering the strong resistance zone
The next day is a down day below the INTERNAL FIB LINE (IFL), warning sign number 2
On the MOMENTUM chart, bearish divergence has formed, warning sign number 3.
CONCLUSION
Seems like the GBP is not making a new high after all, at least not for this week.
RENKO CHART:
Double top forming
CANDLESTICK
Bearish gravestone doji on Thursday is ominous, considering the strong resistance zone
The next day is a down day below the INTERNAL FIB LINE (IFL), warning sign number 2
On the MOMENTUM chart, bearish divergence has formed, warning sign number 3.
CONCLUSION
Seems like the GBP is not making a new high after all, at least not for this week.
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