GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is approaching the overbought area. In this situation, the price is expected to test the 5/8 (1.2817) level, rebound and drop to the support at 4/8 (1.2695). The scenario could be cancelled by a breakout of the 4/8 (1.2695) level. In this case, the pair might decline to the support at 3/8 (1.2573).
On M15, following a rebound from the 5/8 (1.2817) level on D1, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.
Origin: RoboForex
