The GBP / USD pair
The GBP/USD pair is already at February 24 low and may continue its downward movement to the next weekly support. (W_S2) 1.5685.
On the chart we can see that the pair has found support at 1.5761 corresponding to the first support weekly (W_S1) and the moving average of 200 periods. At this level we can use 2 strategies. 1) If this support level is not broken, we can make BUY-deals with target seen at 1.5950.
On the other hand, if the pair closes below 1.5740, the SELL-deals at the 1.5530 level are recommended.
MCD indicator and Momentum are showing the signs of a possible rebound.
