The price of GBPUSD has been going down on a slight slope for ten days. During these ten days, the fluctuation range was small, which could also be proved from the Standard Deviation. Standard Deviation has been moving at a low level since the beginning of this downward trend. What does the small fluctuation mean?
The Bollinger Bands just expanded, which gave the price more options and possibilities. Also, the price now overlaps with the Ichimoku cloud; it could mean the start of a downward trend; however, the Ichimoku cloud changes the direction later. Although the downward trend on MACD continues, we cannot ignore the SAR trend in a mild slope; dots still squeeze together. And now, the price line touches the 38.2% Fibonacci level, which could be a support point. As we see, the price line touched the Bollinger Bands again at this time. I do not want to say that the downward trend would end up here. However, we should be careful and monitor signals. Now the price is dangerous and volatile, we need to be cautious.
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