The GBP/USD pair is trading below its downward trend line on a 4 hour time frame. The pair is trading close to its 50 day moving average which is shown in yellow colour. If the price breaks this line towards the upside, this will show that the bears are losing their control however the bull strength will only emerge when this breaks above the 100 day moving average which is shown in red.
The RSI indicator is trading in line with the price action which means that as the price is making the lower low, the indicator is also confirming this. The MACD indicator on the other side is showing completely different momentum which is that downward move could be fading soon.
Important Zones
