The GBP/USD is trading near the support zone on a 60 minute time frame. The price is trading below the downward trend line and it has also pierced the Bollinger band which means that the volatility for the pair is high.
The RSI indicator is sowing a clear sign of divergence which means that while the price is making the lower low, this same action is not confirmed by the indicator thus the bias could be towards the upside. The MACD however is confirming the price action however, it is important to sate that it is trading near the oversold region and this confirms the above bias.
Important Zones
Resistance Zone
1.6879-1.6816 Major
1.6646-1.6588 Minor
Support Zone
1.6138-1.6061 Minor
1.5907-1.5845 Major
Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.