GBPUSD Bearish MACD Divergence

Technical analysis of Forex market

The British pound has moved back towards the 1.2300 support level against the US dollar after the pair found strong technical resistance from the 1.2350 level. The 30-minute time frame is showing that the recent rally has created bearish MACD price divergence, which extends towards the 1.2200 level. Overall, the GBPUSD can still move towards the 1.2380 level if the US monthly job report misses consensus.

The GBPUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2155 and 1.2100 levels.

If the GBPUSD pair trades above the 1.2200 level, key resistance is found at the 1.2350 and 1.2380 levels.

– advertisement –

Recommend professional Forex robots