GBPUSD price rose in last intraday trading, supported by positive signals on relative strength indicators
Negative pressure continues due to trading below EMA50, with overbought levels on relative strength indicators suggesting potential negative divergence
The (GBPUSD) price rose in its last intraday trading, after its lean on the support of main bullish trend line on the short-term basis, gaining bullish momentum that helped it to achieve these gains, supported by the emergence of the positive signals on the relative strength indicators.
On the other hand, the negative pressure due to the trading below EMA50 continues, with the relative strength indicators reaching overbought levels, exaggeratedly compared to the price move, suggesting the beginning of forming negative divergence, which might intensify the negative pressure.
Origin: Economies
