GBP/USD daily RSI divergence and extended monthly upside offer downside prospects. 4-hour bulls in control until a break of current support. As per the prior analysis, GBP/JPY Price Analysis: Bears eye a 38.2% Fibo retracement zone, the cross has instead extended higher within the monthly bull run and is showing little signs of correcting at this stage, at least according to the 4-hour chart. Monthly & 4-hour charts The 4-hour chart below shows that old resistance is now acting as support, so kudos is given to the bulls committing at even such an advance stage in the cycle. That being said, reaching as high as 151.68, the price is now at a -61.8% Fibonacci retracement of the prior daily correction’s range. Combined with overbought RSI with some slight bearish divergence, there is now an even more compelling case for a significant correction. Daily chart 4-hour chart In targeting a downside move, the current support needs to give out to the price. Breaking the 10-SMA, it would then be expected to act as a resistance structure when combined with prior supporting levels. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD continues higher despite dovish ECB, now in 1.1980s FX Street 1 year GBP/USD daily RSI divergence and extended monthly upside offer downside prospects. 4-hour bulls in control until a break of current support. As per the prior analysis, GBP/JPY Price Analysis: Bears eye a 38.2% Fibo retracement zone, the cross has instead extended higher within the monthly bull run and is showing little signs of correcting at this stage, at least according to the 4-hour chart. Monthly & 4-hour charts The 4-hour chart below shows that old resistance is now acting as support, so kudos is given to the bulls committing at even such an advance stage in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.