GBPUSD is Bullish

5 de dez.

Price was in a strong down trend, however a bullish divergence appeared on 4H timeframe which led to the break of descending trendline. Moreover, an inverse head and shoulder is also completed, indicating the control of bulls. Further. a higher high followed by a higher low is a confirmation of a bullish reversal as per Dow theory. Targets are mentioned on the chart.