GBP/USD – Another failure above 1.30; looks weak
Cable’s repeated failure to sustain above 1.30 handle despite bullish price divergence on the RSI amid mixed batch of US data indicates increased likelihood of the pair revisiting recent cyclical low of 1.2789, especially if prices fail once again on Monday at 1.30 and/or 5-DMA.
On the higher side, we need a convincing break above 1.30 as it would add credence to bullish price RSI divergence on 4-hour chart and open doors for 1.3119 and 1.3207.
On the higher side, we need a convincing break above 1.30 as it would add credence to bullish price RSI divergence on 4-hour chart and open doors for 1.3119 and 1.3207.
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