GBP/USD – Bullish divergence, but rejected at hourly 50-MA

FX:GBPUSD   British Pound / U.S. Dollar
Despite pair’s recovery from the low of 1.2946 on the back of the bullish price RSI divergence on the hourly and 4-hour chart, the subsequent failure at the hourly 50-MA and a retreat to 1.2980 suggests the spot is likely to consolidate heading in to the FOMC release.

Hawkish Fed could force the spot well below 1.2865 (Aug 15 low). On the other hand, neutral Fed would add credence to the bullish divergence and open doors for a corrective move to 1.31 handle.
Tough call, gain 200+ pips or lose 200+ pips, do you have an open position?
Better to stay on sidelines. Purely going by charts there is a possibility of a technical correction ... courtesy of bullish divergence
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out