FX.co ★ GBP/USD 02.11.2020 - Multi pivot at the prrice of 1.2950, watch for prrice action around it to confirm furrher direction

Technical analysis:

GBP has been trading sideways at the price of 1.2930. The price is near very important multi-swing pivot line at 1.2950. The breakout of 1.2950 to the upside would confirm test of 1.3065.

Watch for buying opportunities in case of the strong upside breakout.

MACD oscillator is showing bullish divergence in the background, which is good confirmation for further upside movement.

Major pivot resistance is set at 1.2950

Support levels are seen at the price of 1.2893 and 1.2872