GBPUSD – Bearish Divergence

GBPUSD – Bearish Divergence

British Pound/U.S. Dollar FX:GBPUSD


The price bounced from 1.33500 resistance level and formed a bearish divergence. We got a trend reversal signal. RSI confirmed the price reversal and MACD supported the further donward movement. It gave us a sell opportunity with entry level below SMA50 and stop orders above 1.33500 level. Profit targets could be placed at the uptrend line, 1.31000 and 1.30000 support levels.

Source: TW DLavrov

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