A bullish price relative strength index (RSI) divergence is seen in the GBP/USD 4-hour chart. 14-day RSI shows oversold conditions. 4-hour chart Daily chart Spot Rate: 1.3320 Daily High: 1.3325 Daily Low: 1.3297 Trend: Corrective rally likely Resistance 1.3329 (5-day MA) 1.3407 (4-hour 50-MA) 1.3422 (May 24 high resistance on 4-hour chart) Support 1.3294 (recent low) 1.3062 (100-week MA) 1.30 (psychological level) The bullish price RSI divergence and the oversold 14-day RSI indicate scope for a corrective rally. That said, moving averages maintain a bearish bias – 5-day, 10-day, and 5-week, 10-week MAs continue to fall in a GBP-negative manner. 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 Fed’s Bullard: Aggressive pace of rate hikes could invert yield curve FX Street 5 years A bullish price relative strength index (RSI) divergence is seen in the GBP/USD 4-hour chart. 14-day RSI shows oversold conditions. 4-hour chart Daily chart Spot Rate: 1.3320 Daily High: 1.3325 Daily Low: 1.3297 Trend: Corrective rally likely Resistance 1.3329 (5-day MA) 1.3407 (4-hour 50-MA) 1.3422 (May 24 high resistance on 4-hour chart) Support 1.3294 (recent low) 1.3062 (100-week MA) 1.30 (psychological level) The bullish price RSI divergence and the oversold 14-day RSI indicate scope for a corrective rally. That said, moving averages maintain a bearish bias - 5-day, 10-day, and 5-week, 10-week MAs continue to fall in a GBP-negative manner. 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.
