Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.2936. Anyway, according to the H1 time – frame, I have found the fake breakout of yesterday's low at the price of 1.2957, which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD oscillator and the breakout of supply trendline, which is another sign of strength. My advice is to watch for buying opportunities with the upward target at the price of 1.3085.
The material has been provided by InstaForex Company - www.instaforex.com