Every month of June since 2014 has been a reverse to the down side for GBP/USD. The candle that closed this week seems to signal a reversal confirmation to this trend by having found support at the lows of June 2016, thus, indicating a bullish trend continuation.
Further confirmation for a bullish reversal can be seen in the MACD divergence, as well as renewed oversold conditions on the Stochastic oscillator. Also, the 100SMA is now acting as support below current price and has been leveling out after the double top above was formed. It now looks that GBP/USD is getting ready for stage two of its bullish reversal which commenced at the beginning of 2017.
Nonetheless, one still needs to be aware of volatility before entering a long term trade to the upside, however, technically all the signs point to the upside. A close above 1.3533 would be the safest confirmation to go long for the 'long' term.
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