GBPUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME
Publish Date : 2019/10/31 - 05:14

GBPUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME


  • The recent 220 pips slide from its 1.3013 high printed on 21 Oct 2019 has managed to stall and bounced off from the pull-back support of the former minor ascending channel resistance from 03 Sep 2019 low.
  • Elements have turned positive with a series of “higher lows” seen in the hourly RSI oscillator after it hit its oversold region on 24 Oct. These observations suggest upside momentum has resurfaced. Flip back to a bullish bias with 1.2800 as the short-term pivotal support for another potential upleg to target the next intermediate resistance at 1.3210.

Source:forex.com

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