GBPUSD - New Buy Opportunity in The Falling Market

It looks like GBPUSD market will be able to provide us an interesting trading opportunity. The price could not develop the breakout below the important support level and we got a strong bullish candle with the close price above the support level. We can say that the price bounces from the support.

If we look at the indicators, we also will be able to get bullish signals and confirmation for the price reversal. MACD histogram supports the further upward movement - it's a bullish signal. RSI reverses in the oversold zone and it confirms the price reversal. RSI gives us a bullish signal too.

DMI still supports the downward movement, but ADX line is going to move sideways. If so, we will get a signal confirming a correction movement. I don't think that the market will be able to start a new uptrend from the current levels, but the correction to the previous downward movement looks very logical. The price action at the support level gives us a new buy opportunity with stop orders below the local swing low and the profit target between 1.29000 and 1.30000 resistance levels.