Pound still fighting!

Good Morning Dynamic Traders

Hope you’ve had a successful week of trading!

My apologies for not posting an update yesterday, let’s see how the GBPUSD has been getting along over the past 2 days.

If you have a look at your day chart (not posted) you will see that price did indeed struggle to drop any further after my last update on Wednesday, with yesterday showing signs of price getting stronger. This strength however does seem to be short lived, as we are greeted with a bearish candle stick this morning. So what has happened to price over the past 2 days, to help explain I will be using the 4hr chart below!
You might remember from Wednesday’s update the MACD convergence I mentioned. This convergence did actually help price to climb and it had enough strength to push price above the VI, which is now acting as a Support Line.













So what’s price going to do now? You will notice on the chart above that I have circled a group of candlesticks, could this be a flag?

Next week will dive in further and see what chances we had to catch some profits.

I Hope you have a great weekend!

Carpe Diem

Richard Monnery