FX.co ★ GBP/USD update for March 15, 2022 - Bull divergence and potential for bigger rally

Technical analysis:

GBP/USD has been trading upside this morning as I expected. The price is heading towards upside objective and I stil expect bullish movement.

Trading recommendation:

Due to bullish divergences in the background, I see potential for further bigger rally towards upside references.

Watch for buying opportunities on the pullbacks with the upside objectives at 1.3180 and 1.3275.

Stochastic and MACD are showing bullish divergences, which is sign that selling power decreased in power and that rally is on the way.

Support level is set at the price of 1.3000