{"id":11852,"date":"2010-08-09T09:45:18","date_gmt":"2010-08-09T13:45:18","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11852"},"modified":"2010-08-09T09:45:18","modified_gmt":"2010-08-09T13:45:18","slug":"gbpusd-may-see-bearish-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/09\/gbpusd-may-see-bearish-correction\/","title":{"rendered":"GBP\/USD May See Bearish Correction"},"content":{"rendered":"<p><strong>By Dan Eduard <\/strong>&#8211; For today\u2019s technical analysis, we will be looking at the daily chart  for GBP\/USD.  As can be clearly seen, the pair has been experiencing a  bullish trend for sometime.  A close look at several indicators will  show that this trend may be soon coming to an end.<\/p>\n<p>The technical indicators we will be looking at are the Bollinger Bands, Relative Strength Index (RSI) and the Stochastic Slow.<\/p>\n<p>1. The Bollinger Bands have already begun to widen, indicating that a  price shift is likely to take place.  As we can see, the price ticks  are currently right along the upper band, telling us that the price  shift is likely to be downward.<\/p>\n<p>2. The Relative Strength Index shows the pair trading well into  overbought territory.  Traders can take this as a sign that downward  pressure may occur in the near future, lending support to our original  theory.<\/p>\n<p>3. The Stochastic Slow shows a cross has formed above the upper  resistance line.  This is typically a sign that a downward correction  will occur.  This supports our original theory of an impending bearish  move.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/g.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/g.bmp\" alt=\"\" width=\"590\" height=\"583\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/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 Dan Eduard &#8211; For today\u2019s technical analysis, we will be looking at the daily chart for GBP\/USD. As can be clearly seen, the pair has been experiencing a bullish trend for sometime. A close look at several indicators will show that this trend may be soon coming to an end. The technical indicators we &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/09\/gbpusd-may-see-bearish-correction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD May See Bearish Correction&#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-11852","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11852","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=11852"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11852\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}