CHART OF THE WEEK: CABLE BULLS

Each week, I’ll highlight a chart out of the Quid Report.

The bullish divergence on the $GBPUSD weekly chart has been developing all year long. This week’s lows at the open and the subsequent rally have put yet another higher low on the weekly RSI. The bullish RSI divergence suggests, however, that price has the potential to return to the resistance level at 1.5000. Sellers are sure to step in at the major psychological level but can they hold off the bulls that having been building momentum all year?


GBPUSD WEEKLY CHART


This is an excerpt from this week’s issue of Quid Report. Subscribers receive my research on all major GBP pairs at the top of the week, including access to @faithmightfx on Twitter for daily, real-time calls and adjustments to the weekly report. AVAILABLE NOW.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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