GBPUSD price rose after reaching support at q.3590, gaining positive momentum
Positive signals on the RSI emerged, indicating potential stability
Bearish correctional wave dominant on short-term basis, negative pressure from trading below EMA50
The (GBPUSD) price rose in its last intraday trading, after reaching our suggested target at q.3590 support, gaining positive momentum that affected its stability, especially with the emergence of the positive signals on the (RSI), after reaching oversold levels.
This comes amid the dominance of bearish correctional wave on the short-term basis, with the continuation of the negative pressure that comes from the pair’s trading below EMA50, forming a dynamic resistance that prevents the pair’s recovery.
