GBPUSD Over Extended

٢٣ سبتمبر ٢٠١٦

GBPUSD on the hourly charts looks way overextended to the downside. Bands are too wide. Looking for buyers to mean revert back to lower band around 1.30 off the back of a possible bullish hammer reversal pattern. Of course, confirmation will be required with bullish activity above the previous candle's high at 1.29759.