GBPUSD: Bearish Divergence at Resistance Zone
British Pound/U.S. Dollar FX:GBPUSD
The price bounced from 1.34850 resistance zone . It gives us a possible trade opportunity. The price diverged with MACD and RSI . It is a trend reversal signal at the resistance zone . RSI and MACD histogram supported the price reversal as well as a possible downward movement.
DMI is bullish , but ADX line is going to move down.
All these bearish signals give us good selling opportunities in the daily and hourly timeframes. The market should be added to a watch list.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov