FX.co ★ GBP/USD 12.20.2019 - Major multi-pivot support at 1.3000 got protected, watch for buying opportunities

GBP/USD has been trading downwards in the past 24 hours but it found solid support at 1.3000. Due to oversold condition on the 4H time-frame, my advice is to watch for buying opportunities with the target at the price of 1.3125.

Watch for intraday buying opportunities due to oversold condition...

MACD oscillator is showing bullish divergence, which is another sign of the exhaustion from sellers.

Stochastic is in oversold condition

Resistance level is seen at the price of 1.3125

Intraday support is seen at 1.3000