GBPUSD Bullish Reversal
Although GBPUSD is in a sharp downtrend and has made a lower low, price has been rejected and pushed to the upside by the support level at 1.3640
Moreover, the bearish pressure has been decreased and price has made bullish candles with long lower shadows and price is trying to make a higher high and also has broken the little descending trend line.
On the other hand, there is a resistance zone between 1.3690 - 1.37 which may make price to stop, but personally I think this resistance level has a high probability for an upside breakout.
If 1.37 broken out to the upside and price closed a bullish confirmation candle after the breakout above 1.37, we can expect a rise on GBPUSD to 1.3750
Moreover, the bearish pressure has been decreased and price has made bullish candles with long lower shadows and price is trying to make a higher high and also has broken the little descending trend line.
On the other hand, there is a resistance zone between 1.3690 - 1.37 which may make price to stop, but personally I think this resistance level has a high probability for an upside breakout.
If 1.37 broken out to the upside and price closed a bullish confirmation candle after the breakout above 1.37, we can expect a rise on GBPUSD to 1.3750
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