GBPUSD WATCHING NEGATIVE PRICE DIVERGENCE
The British pound continues to trade around the 1.3000 level against the US dollar on Friday, as optimism over Brexit negotiations continues to support sterling buying. The GBPUSD pair retains an intraday bullish while trading above the 1.2985 level. Caution is advised as the recent move higher in the GBPUSD pair has created bearish price divergence on the MACD indicator across the four-hour time frame.
The GBPUSD pair is only intraday bullish while trading above the 1.2985 level, key resistance is found at the 1.2950 and 1.2930 levels.
If the GBPUSD pair moves below the 1.3020 level, buyers may test towards the 1.3040 and 1.3080 resistance levels.