Long Opportunity (GBPUSD)
Looking at the 1D time-chart, prices are currently testing the support zone, which was previously tested in Dec 2018. There is a strong probability of a reversal to the resistance zone, given that the most recent candles closed above the High of the Low Period (HOLP) candle, forming a Morning Star pattern in the process. Additionally, Parabolic SAR dots have reversed, signalling an upward reversal.
Although current RSI levels of 52.42 are not within the "Oversold region", past results from Dec 2018 seem to lend support to a reversal, as RSI levels during that period were also hovering within the 50's before escaping the support zone.
Although current RSI levels of 52.42 are not within the "Oversold region", past results from Dec 2018 seem to lend support to a reversal, as RSI levels during that period were also hovering within the 50's before escaping the support zone.
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