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GBP/USD Reverses On Stopping Volume

Published 03/27/2020, 02:14 PM
Updated 07/09/2023, 06:31 AM

A solid reversal on cable on the 3-minute chart signalled as always with volume, and one which also introduces another plan of the volume price analysis methodology which is support and resistance.

First, we saw the breakaway from the volume point of control (yellow dashed line) but note the volume, which is falling and sign the move lacks strength.

Then, we see the stopping volume on the narrow spread candle, and this is followed by the strong reversal candle on high volume. The rally then develops breaking two levels of resistance denoted with the red dashed lines of the accumulation and distribution indicator, and punctuated with weak selling pressure. The weakness of the move lower indicates the bullish momentum is set to continue with the trend monitor below also confirming this sentiment.

Latest comments

Whats ‘stopping volume’ and where do you get these ‘volume statistics?’
Randy she is referring to the size of the volume the reversal candle had.
And where does this volume statistic come from?
plz some info GBp usd
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