GBPUSD Almost Primed
GBPUSD is my favorite when it comes to benefit from DXY's weakness. I know, it is not fully ready to explode but it is priming. I also know there are tons of FA facts against it, but TA says we are quite near to the bottom. RSI divergence and descending wedge are some facts that favor possible GBP rally and even if we go to the previous low (light blue line) my bias would not change.
MACD is not bullish yet, but about to... RSI is also rushing to break its resistance.
If MACD turns bullish, RSI breaks its resistance line, price surpass yellow and especially green lines, we should see a rally towards 1.2990 - 1.30.
There is also a formation (which is not perfect) that wants somewhere around 1.27ish (shown with dotted yellow vertical line) That formation is not visible in this timeframe, go 1hour or 4 to see it.
Good luck.
MACD is not bullish yet, but about to... RSI is also rushing to break its resistance.
If MACD turns bullish, RSI breaks its resistance line, price surpass yellow and especially green lines, we should see a rally towards 1.2990 - 1.30.
There is also a formation (which is not perfect) that wants somewhere around 1.27ish (shown with dotted yellow vertical line) That formation is not visible in this timeframe, go 1hour or 4 to see it.
Good luck.
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