Technical Analysis: Heavily Overbought Stochastic RSI with Resistance Bollinger band hit.
Fundamental Analysis: Initial Jobless Claim positive consensus this week should cause the reversal for next week, along with CPI MoM, YoY positive consensus, to carry this new trend we can expect the Initial Jobless Claim, Michigan consumer sentiment and the building permits to drive the price down and reinforce the new markets sentiment as well as negative economic data for GBP.
Currency Coefficiency: With that in mind about Cable if we have look at EURUSD & AUDUSD you should also be able to see and imminent reversal in trend there as well if you are not aware of currency coefficiecy, I have left a link below.
https://www.markettraders.com/blog/understanding-currency-pairs-correlation/
Fundamental Analysis: Initial Jobless Claim positive consensus this week should cause the reversal for next week, along with CPI MoM, YoY positive consensus, to carry this new trend we can expect the Initial Jobless Claim, Michigan consumer sentiment and the building permits to drive the price down and reinforce the new markets sentiment as well as negative economic data for GBP.
Currency Coefficiency: With that in mind about Cable if we have look at EURUSD & AUDUSD you should also be able to see and imminent reversal in trend there as well if you are not aware of currency coefficiecy, I have left a link below.
https://www.markettraders.com/blog/understanding-currency-pairs-correlation/