GBPUSD Scenarios

22 apr 2019

The price is near the bottom of the triange and forms a regular bullish divergence. A closer look at the stochastic indicator shows us that a possible correction is imbound. If the price falls under the resistance area, short positions may be opened after the price does a corrective movement and then falls under the last low. We are taking in consideration 2 scenarios for opening a long position. Case 1: the price climbs, gets rejected from the descending trendline and then climb back over the newly formed high or, Case 2: the price starts climbing and manages to climb over the last high.