GBPUSD Buy Opportunity

The weekly chart of GBPUSD gives a very interesting buy opportunity for long run. The price reached a support zone formed by SMA100 and 1.30000 support level. RSI is at the oversold zone. It will be able to give a good confirmation for a reversal from the support zone. MACD is below the signal level and it can support a possible upward movement. For buying based on the weekly time frame, we still have to wait for a bullish candle confirming the price reversal. But lower time frames already provide buy signals and one of them is based on a bullish divergence from the daily. I will write about this signal in a new post.

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