Technical Analysis – GBPUSD recovers after touching 6-month low; next level to watch 1.3450
Posted on May 31, 2018 at 1:13 pm GMTGBPUSD has advanced after the pullback on the six-month low near the 1.3200 psychological level. The price started Wednesday’s trading session above the 50.0% Fibonacci retracement level of the upleg from 1.2100 to 1.4375, suggesting that the market would increase bullish movements. Looking at momentum indicators, the RSI is moving higher, having crossed above the 30-oversold level. In addition, the MACD oscillator is moderately rising and posted a bullish crossover with its trigger line. In the wake of positive pressures, the market could meet [..]