GBP/USD corrective rally may gather steam

٧ يوليو ٢٠١٦

Resistance – 1.30, 1.3119, 1.3206

Support – 1.2940, 1.2864, 1.2789

• Pair’s bullish price RSI divergence on the 4-hour chart on Wednesday, if followed by a break above the hourly 50-MA hurdle today could result in a break above 1.30 levels.
  

• An hourly closing above 1.30 would expose 1.3119 (June 25 low).
  

• On the other hand, a failure to take out the hourly 50-MA followed by a break below 1.2864 could yield a re-test of 1.2789 levels.