FX.co ★ GBP/USD 02.27.2020 - Rejecetion of the Pichfork median line, buying opportuniteis are preferable towards the level of 1.3010

Technical anlaysis:

GBP/USD has been trading downwards. The price tested and rejected from the major support at 1.2865. I expect further rally and buying opportunities are preferable.

I would watch for buying opportunities due to rejection of the Median Pitchfork line and oversold condition on the Stochastic oscillator. I see potential for test of 1.3010 and 1.3060.

Resistance levels are set at the price of 1.3012 and 1.3062

Major support level is set at the price of 1.2865.