Hi traders!

GBPUSD – On the daily TF, we have an inverted hammer candlestick. That usually is a bullish signal. Bulls will try to push this pair up today but if we close with a doji today, then sideways market might ensue.GBPUSD Technical Analysis on Forex Blog

Stochastics doesn’t look too good either at this point for bulls. It’s pointing downwards and red line is over the blue line indicating bearish bias.

Mixed signals like this doesn’t really make for a good high probability trade. (We have to identify both good and bad opportunities).

~ Ardy