FX.co ★ GBP/USD analysis for May 14, 2019

GBP/USD has been trading downwards as we expected yesterday. Anyway, there is potential for the rally in the next period so our advice is to watch for potential buying opportunities.

We closed our short position from yesterday with the profit of 100 pips. The reason for our exit at 1.2908 is that we saw bullish divergence in creation on the H4 time-frame. This increase odds for potential rally. Our advice is to watch for buying opportunities. The potential target is set at the price of 1.2976.

Upward references:

Swing low like resistance – 1.2976

Downward

Swing low – 1.2877