GBP/USD could be in for a minor bounce possibly to 1.2880-1.29, as the previous 4-hour candle closed on a positive note, confirming a bullish divergence (higher lows) on the 4-hour chart RSI. 

A break below 1.2845 would invalidate the positive divergence of the RSI. 

4-hour chart

Trend: corrective bounce

    1. R3 1.3033
    2. R2 1.2992
    3. R1 1.2927
  1. PP 1.2886
    1. S1 1.2821
    2. S2 1.278
    3. S3 1.2715
Updated Feb 11, 00:00 GMT


Leave a Reply

Your email address will not be published. Required fields are marked *

Risk Warning: Trading Foreign exchange and CFDs are risky and can result in the loss of your invested capital. Please ensure that you understand the risks involved and do not invest more than you can afford to lose. Read full Risk Disclosure.