GBP/USD Technical Analysis: RSI divergence and stochastics are bearish, eyes on 50% Fibo retracement in 1.2780s

GBP/USD Daily chart

• GBP/USD daily stochastics are reading overbought and should be a warning to the bulls.
• GBP/USD RSI showed a divergence on the daily chart to the price action on the 19th and 20th Feb
• Support is being seen at the 23.6% fibo of the 2019 swing high and Feb lows as well as long-standing support/resistance line at 1.3010 1.2990 respectively. 
• Bears can target 50% Fibo retracement at 1.2783 on a break of 38.2% Fibo confluence with prior trendline resistance, now turned support on the 19th Feb upside break.