Great looking chart of EURGBP. GoNoGo Trend on the 1hr chart has been a “NoGo” but has consolidated over the last 2 days. We saw a green countertrend arrow close to the recent low.
In the lower panel, the GoNoGo Oscillator has been testing the zero line from below. If the “NoGo” trend is to resume, the oscillator should be rejected at the zero line.
The new GoNoGo Squeeze indicator, (grey arrow), helps visualize this decreasing volatility by “climbing” higher each day that the oscillator inputs are giving neutral readings. After periods of reduced volatility there is often a breakout and the GoNoGo Oscillator can suggest in which direction. If it is able to break into positive territory that would be bullish. Click here ...