FX CHART OF THE DAY: GBPUSD MEAN REVERTION DOWNWARDS TRADE
GBPUSD is on risk of mean revertion downwards trade.
Price is tagging upper 1st standard deviation from weekly (120-h) mean) from inside amid compressing volatility (measured by 3.2 standard deviations)
Traders can take short positions at the 1st standard deviation (1.5450) with stop above relevant highs (1.5485) and targeting the weekly mean (now at 1.5365)
There are no major news incoming on Monday, so no extra volatility is expected...
Price is tagging upper 1st standard deviation from weekly (120-h) mean) from inside amid compressing volatility (measured by 3.2 standard deviations)
Traders can take short positions at the 1st standard deviation (1.5450) with stop above relevant highs (1.5485) and targeting the weekly mean (now at 1.5365)
There are no major news incoming on Monday, so no extra volatility is expected...