Above is 4H chart for the pounds. It has been moving well in the uptrend channel in the past few weeks and is now testing its upper resistance line. Obviously there is a bearish divergence on MACD. We could expect another slide which means being unable to break the channel and rocket. It is a good time to short GBP and place stop loss at above the channel.
I would be going to ZhuHai for a short trip in the next two days. See you guys on Sunday night HKT or probably Monday morning HKT.
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