GBP/USD – Bullish price-RSI divergence

FX:GBPUSD   British Pound/U.S. Dollar
Resistance - 1.3352, 1.3427, 1.35-1.3567

Support – 1.3296, 1.3226, 1.3119

PatternBullish break from falling channel on 15-min chart & bullish price RSI divergence on hourly

  • Pair’s bullish break from falling channel on 15-min chart coupled with a bullish price RSI divergence indicates a corrective rally may have resumed and prices could test 1.3427 (hourly 50-MA). If taken out, the pair could extend gains to 1.35-1.3567 (23.6% of Brexit fall).
  • Only a day end closing above 1.3567 would signal a short-term bottom is in place at 1.3119.
  • On the other hand, a failure to take out/sustain above 1.3352 (hourly chart resistance) followed by a break below 1.3296 would shift risk in favor of a re-test of yesterday’s low of 1.3119.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out