GBP/USD
Time frame: H1
Technical Analysis: The graph shows that the price is moving upwards. The price is currently on the diagonal support of the trend channel. RSI and DeM indicate the presence of divergence. Given the strong upward movement in the couple from here, purchases would be more likely.
Indicators: At this stage 50, 100, 200 EMAs play a role of resistance. 200 SMA plays a supporting role. Any closing of the candles above floating averages can be considered as a signal that upward movement will continue.
RSI and DeM - show the presence of divergence, which is considered a signal for reversing the current movement.
Entry into Deal: From current levels
SL: 1.3010
Alternative Scenario: If the price can break the current support, 200 SMA and 50% Fibonacci, then the price will continue to fall to 61.8% on Fibonacci.
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