By Anton Eljwizat
A bullish movement in GBP/USD has pushed a number of technical indicators into the over-bought territory. As I will demonstrate below, the GBP/USD may very well be heading for a reversal, as a bearish cross has taken place on the Slow Stochastic. In addition, the Relative Strength Index (RSI) indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal. Don’t forget your Stops and Limits!
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