Looking at the RSI indicator for both 1 hour and 4 hour charts, we see that the GBPUSD currency pair is extremely oversold. Not only that, on the 4 hour chart, the closing price is way beneath the Bollinger Bands as well; and on the 15 minute chart the MACD indicator has crossed over as well signalling a change in trend, which is also supported by an inverted hammer on the 1 hour chart. Assuming that volatility from the inflation report hearings remains relatively low, evidence points toward the downtrend reversing and we are seeing a long opportunity for this currency pair.