The GBPUSD pair declined in its recent intraday trading after reaching 1.3640 resistance, which was a target in our previous analysis. The pair is now attempting to form a higher low that could serve as a base to help it regain the positive momentum needed to resume its recovery.

This comes while the pair continues to receive dynamic support from trading above EMA50. In the background, we can also observe the beginning of a bullish divergence forming on the relative strength indicators, after reaching deeply oversold levels, exaggerated compared to the pairs price movement, along with the emergence of a positive crossover.