GBP/USD Technical Analysis: Defends 1.30 in Asia, eyes 50-hour MA with bullish RSI divergence on 1H

Having clocked a low of 1.3009 in Asia, GBP/USD is now trading at 1.3042 and could rise further toward the descending (bearish) 50-hour moving average (MA), currently located at 1.3070, as the relative strength index has diverged in favor of the bulls, as per the hourly chart.

Hourly chart

As seen above, the RSI has charted higher lows as opposed to a lower low on price - a sign of seller exhaustion. As a result, the 50-hour MA, which served as a strong resistance last week could be put to test again. 

Trend: Rise to 50-hour MA likely