{"id":11669,"date":"2010-08-03T10:43:31","date_gmt":"2010-08-03T14:43:31","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11669"},"modified":"2010-08-03T10:43:31","modified_gmt":"2010-08-03T14:43:31","slug":"gbpusd-currently-overvalued-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/03\/gbpusd-currently-overvalued-2\/","title":{"rendered":"GBP\/USD Currently Overvalued"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; The <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gbp-usd\">GBP\/USD <\/a>has  recorded much bullish behavior in the past several days. However, the  technical data indicates that this trend may reverse anytime soon. For  example, as I demonstrate below, the 8 hour chart signals that a bearish  reversal is imminent, and it might have the potential of reaching  towards 1.5700 in the coming days. This might be a good opportunity for  forex traders to enter the trend at a very early stage and a great entry  price.<\/p>\n<p>\u2022\tBelow is the 8-hour chart of the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gbp-usd\">GBP\/USD <\/a>currency pair.<\/p>\n<p>\u2022\tThe technical indicators that are used are the <a href=\"http:\/\/www.forexyard.com\/tk\/stochastic\">Slow Stochastic <\/a>and <a href=\"http:\/\/www.forexyard.com\/tk\/relative-strength-index-rsi\">Relative Strength Index (RSI)<\/a>.<\/p>\n<p>\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022\tPoint 2: <a href=\"http:\/\/www.forexyard.com\/tk\/stochastic\">The Slow Stochastic <\/a>indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 3: <a href=\"http:\/\/www.forexyard.com\/tk\/relative-strength-index-rsi\">The Relative Strength Index (RSI)<\/a> indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure.<\/p>\n<p>GBP\/USD 8-Hour Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBP-USD-3-8.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBP-USD-3-8.JPG\" alt=\"\" width=\"502\" height=\"663\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong><a title=\"Market Analysis\" href=\"..\/2010\/08\/02\/2010\/07\/30\/category\/forex-market-news-analysis\/\">Market Analysis<\/a> provided by<span style=\"text-decoration: underline;\"> <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                               Yard.<\/a><\/span><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                        may not be suitable for all      investors.       There    is  a              possibility      that          you   could       sustain a  loss   of  all   of    your              investment and            therefore  you        should   not    invest        money  that   you            cannot afford to         lose. You         should    be      aware of     all       the    risks       associated     with     Foreign       Exchange        trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; The GBP\/USD has recorded much bullish behavior in the past several days. However, the technical data indicates that this trend may reverse anytime soon. For example, as I demonstrate below, the 8 hour chart signals that a bearish reversal is imminent, and it might have the potential of reaching towards 1.5700 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/03\/gbpusd-currently-overvalued-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Currently Overvalued&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11669","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11669"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11669\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}