GBPUSD Is Going Up! Buy!

Here is our detailed technical review for GBPUSD.

Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The price is testing a key support 1.314.

Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.324 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 – the market is considered to be oversold.
When it bounces above 70 – the market is considered to be overbought.