On all higher timeframes, the British Pound is overbought, while on the D1 and MN timeframes, there is a downward divergence present. It is unclear how and if it will play out. Currently, due to technical reasons, the Pound is moving upwards, although the reason behind this movement is not clear. On lower timeframes, such as the H1, there is a signal indicating a halt in the upward movement. However, this signal coincides with the Bollinger Bands and currently the first part of this trading strategy is moving downwards towards the 10-period moving average or the mid Bollinger Band. As of now, there is no signal for a downward movement halt on the H1 timeframe, meaning the retracement downwards is not yet complete. After the completion of the retracement downwards, the second part of the trading strategy - the Last Push - will commence upwards. The signal for either a continuation of the upward movement or a reversal will depend on the completion of this Last Push. I am waiting for the completion of this trading strategy.
