FX.co ★ GBP/USD analysis for May 25, 2023 - Potential for the further growth

Technical analysis:

GBP/USD has been trading downside yesterday but this morning I found oversold condition and bullish divergence on momentum, which is good sign for the further rally.

Due to the oversold condition and bullish divergence, I see potential for the rally towards upside references. The mid-long term trend is upside....

Upside objectives are set at the price of 1.2400 and 1.2460

MACDI oscillator is showing bullish divergence, which is good sign for the further rally.

Intraday support is set at the price of 1.2335