GBP/USD Technical Analysis: ticking higher in Asia, but 4H bear RSI divergence is still valid

Omkar Godbole FXStreet Contributor

The GBP/USD pair is currently trading at 1.3086, having hit a low of 1.3056 earlier today. The uptick, however, could run into offers as the bearish divergence of the RSI on the 4-hour chart is still valid.

4-hour chart

As seen above, the RSI began charting lower highs as opposed to higher high in price (bearish divergence) on Jan. 23. That bearish signal would be invalidated only above 1.3218.
The 5- and 10-candle MAs produced a bear crossover earlier today and are now trending south.
The RSI is now reporting bearish conditions below 50.00.
As a result, the 50-candle MA support, currently at 1.3029, could come into play during the day ahead.

Trend: bearish

GBP/USD

Overview:
    Today Last Price: 1.3088
    Today Daily change: 11 pips
    Today Daily change %: 0.08%
    Today Daily Open: 1.3077
Trends:
    Daily SMA20: 1.2889
    Daily SMA50: 1.2777
    Daily SMA100: 1.29
    Daily SMA200: 1.3054
Levels:
    Previous Daily High: 1.32
    Previous Daily Low: 1.3051
    Previous Weekly High: 1.3214
    Previous Weekly Low: 1.283
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Daily Fibonacci 38.2%: 1.3108
    Daily Fibonacci 61.8%: 1.3143
    Daily Pivot Point S1: 1.3019
    Daily Pivot Point S2: 1.296
    Daily Pivot Point S3: 1.287
    Daily Pivot Point R1: 1.3168
    Daily Pivot Point R2: 1.3258
    Daily Pivot Point R3: 1.3317

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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