Pound Sterling is in a “Go” trend and the GoNoGo Oscillator has been largely supported by the zero-line during this move. Now, we see after a slight weakening in price (aqua bars) the GoNoGo Oscillator has fallen and is riding the zero-line again. We will need to see a rally back into positive territory and if we do then price will likely move higher in the short term to test 1.37. Alternatively, if the GoNoGo Oscillator moves below zero into negative territory price would struggle.
By
Alex Cole
