WaveSavvyTrades

Channel Resistance + RSI Overbought

OANDA:GBPJPY   영국 파운드/일본 엔
This symbol has been choppy in the past ten days. The price has been consolidating in a rising channel. Usually a rising channel indicates bearish. With the channel's resistance in confluence with the resistance of (9th November 2022) in addition to an overbought RSI, could this be where we start selling? Could be possible. A break above the channel could expose 168.7 and 169.1. However, if the resistance of the channel holds and price breaks the bottom of the channel, we could likely see 163.5 and possibly 160. My bias leans more to the bearish side.

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