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GBP/USD Nears April High after Divergence at the Low

Jamie Saettele, CMT

DailyFX.com -

Daily

GBP/USD Nears April High after Divergence at the Low
GBP/USD Nears April High after Divergence at the Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“Long term support at 1.4350 remains of interest but daily and weekly divergence with momentum at price lows cast doubt on whether GBPUSD reaches that level.” The sharp turn higher (and pending weekly reversal) is promising for longer term bottoming prospects, especially in light of the mentioned divergence. Early year lows at 1.4950 and 1.5033 could provide resistance.


original source

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