Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2964. According to the M30 time – frame, I found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the MACD oscillator and rejection of the resistance trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2920.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.2964. According to the M30 time – frame, I found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the MACD oscillator and rejection of the resistance trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.2920.
The material has been provided by InstaForex Company – www.instaforex.com
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