After the Bollinger Bands shrunk, the price of GBPUSD started to go down sharply. US dollars seem to be weak since the pandemic went worse. However, the price of GBPUSD finally met the resistance area now at 1.4157. The price has been struggling around this resistance area for almost 30 days; now, it finally broke out. So, how stable is this new trend?
The price broke out the lower Bollinger Bands, which was expected. The Ichimoku cloud just made a cross point and went up; now, the price line just overlapped the Ichimoku cloud on this cross point in a sharp downward trend. The parabolic SAR started a downward trend line earlier than the breakout, and now it is still solid. These bearish signals are significant.
Standard deviation changed its direction and went up now, which was expected because of the significant fluctuation. MACD made a bearish cross at the same time that SAR started to go down. And now MACD seems stable.
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