FX.co ★ GBP/USD analysis for June 24,.2019

GBP/USD has been trading downwards in past 10 hours but I found that there is potential end of the downward correction (ABC) in the background. Buying opportunities are preferable.

Blue rectangle – Important support

Yellow rectangle – Resistance

Green rectangle- Resistance 2

GBP/USD did nice test and reject of the key support at the price of 1.2726. There is potential of ABC downward correction completion, which is sign that sellers don't have enough power. MACD oscillator is showing that selling power is decreasing and that there is potential for more upside. Upward targets are set at the price of 1.2763 and 1.2810. As long as the GBP is trading above the 1.2707, I would watch for buying opportunities.