GBP/USD

21 thg 7, 2016

Fierce battle around EMA 9 on daily chart. By calculation, The next opening candle for tomorrow, EMA 9 should be conquered. As I mentioned to monitor 4h chart using 15min. Currently 15min MACD is below zero which is not good but 1h(dead cross) is above and 4h(gold cross) is near to zero. Whether there is any further upside you can hinge it on 15min MACD. if it manages to stand above, chances for a bigger 4h move would be higher. If there happens to shoot up, sell when 15min RSI hits 80 or above. There are tonnes of robots out there that are programmed to buy/sell at either end of RSI (knowingly or unknowingly). You can then plan to buy back once price retrace to RSI 50 level. The best case is RSI 50 holds.