The major trend of GBP/USD is bearish but from past few trading sessions prices are not sustaining at lower levels & consolidating near the important level of 1.4990. In its hourly chart, prices are consolidating with strong positive bias and taking support of 30 and 200 DMA. If the pair breaks the important level of 1.4990 at upside then we can expect it to test the level of 1.5040/1.5090.
INDICATORS:-
RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair.
MACD line is also sustaining in buying territory indicating the bullish trend in the pair.
STRATEGY:- GBP/USD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.