GBP/USD 10.02.2019 – Bullish divergence on the 4H time-frame

Trading 02 oct 2019 Donner votre avis

GBP price has been trading sideways at the price of 1.2275. Anyway, I still potential upside due to the bullish divergence in the background on the MACD and rejection of the support.

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Red rectangle – Important support

Green rectangle – Important resistance

Purple rising line – Expected path

MACD oscillator is showing bullish divergence and I do expect at least another push higher. Additionally, there is the successful rejection of the support at 1.2225 (red rectangle), which is another sign of the strength. Watch for buying opportunities on the dips using 5/15 minutes time-frame for better entries. The upward target is set at the price of 1.2330 (cluster of highs).

The material has been provided by InstaForex Company - www.instaforex.com

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