empty
 
 
17.05.2022 04:20 PM
GBPUSD turns higher as expected from our previous analysis.

GBPUSD recently made a low around 1.2154 but is now trading around 1.2472. In our previous analysis on GBPUSD, we warned traders that a bounce higher was imminent and justified as the downtrend was weakening according to the bullish RSI divergence.

This image is no longer relevant

Red lines- bullish RSI divergence

Last Friday we warned bears that a move towards 1.2380 was justified and what we were expecting to happen over the next two sessions. Today is the 2nd session after this analysis and price has surpassed our expected bounce target. As long as price holds above 1.2150, we believe that a bigger bounce could unfold if the entire decline from 1.4230 is complete.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback