FX.co ★ GBP/USD 01.07.2020 - Downside cycle stiill expected, watch for selling opportutniies, full cycle target is set at 1.2900

GBP/USD got strong rejection of major resistance trendline at the price of 1.3200 that I mentioned yesterday. I expect downward cycle and potential testing of 1.3060 and 1.2900.

My advice is to watch for buying opportunities on the dips using intraday-frames 5/15 minutes.

MACD oscillator is showing positive reading but with no new momentum to the upside

Key resistance level is seen at the price of 1.2900

Support levels and downward targets are set at the price of 1.3060 and 1.2905.