Saturday, July 28, 2018

GBP/USD Will Test The Support In The Zone Around 1.3020 – 1.2990

The behavior of the pair clearly shows that it may test the support in the zone around 1.3020 – 1.2990 which has been marked on the D1 time frame.

The RSI divergence on the D1 time frame remains valid for the moment, but I expect that during the move to the downside the indicator will test its trend line marked on the same time frame once again.

After that there are two possible scenarios to keep in mind: if the support holds the pair will begin moving to the upside to reach the limit of the butterfly pattern and the limit of the divergence>>>

Next week we will find out which scenario the market will pick.