GBP/USD analysis for January 08, 2019 - ConsultFX

GBP/USD analysis for January 08, 2019


Recently, the GBP/USD pair has been trading sideways at the price of 1.2750. According to the M15 time – frame, I have found that GBP/USD is in a compression mode, which is a sign that there is a potential change from bullish to bearish. I have also found a hidden bearish divergence on the the MACD oscillator and a breakout of the upward trendline, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of 1.2714 and at the price of 1.2618.

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