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GBPCNH 25 Jul 2023

GBPCNH 25 Jul 2023 on the weekly timeframe. it can be seen that this pair is well above the kumo cloud on the Ichimoku indicator after experiencing bullishness since last April. Had touched a high value of 9.38914 before finally experiencing a trend reversal into bearish. If referring to the MFI indicator, it can be seen that this pair has been at a saturation level for quite some time. Which allows bearish to occur and will continue until there are factors that will affect the trend reversal to happen again. Therefore, go-short can be an option for traders at this time. But still have to pay attention to market movements and changes that may occur.

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