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    Baxia Markets
    By
    September 28, 2021

    Crash on GBPUSD

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    As can be seen from the four hours chart, the price has made a big jump, where the price had fallen from 1.367 to 1.353 in one bar. Although this fall was expected, since we already have a pennant pattern with a downward trend ahead, the slope was steeper than what we expected. The price line broke out the Bollinger Bands by a significant margin. Although the Bollinger Bands became broader, they still could not catch the falling price. Will the price continue to fall?

     

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    The standard deviation goes up because the price makes huge fluctuations; this could mean that the price will keep making big changes. MACD makes a death cross, which is within our expectations. Although the signals above all show the price may continue to go down, there are different understandings. Standard deviation means the fluctuation may continue, but it does not specify the direction. The Stochastics reach the oversold area, which is unstable, allowing the price to bounce up anytime. Also, the crash itself is an unstable trend.

     

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