GBP/USD bounces off lows, climbs further beyond 1.2200 while Thursday’s four-hour chart is painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports. Key quotes “GBP/USD has dropped below the 50 Simple Moving Average on the four-hour chart yet momentum remains to the upside, balancing the picture. The cable trades below the 100 and 200 SMAs and the Relative Strength Index is balanced.” “Support awaits at 1.2165, a former double-bottom that provided support last week. Further down, the May trough of 1.2075 is the next level to watch.” “Some resistance is at 1.2270, which was a swing low in early May. Further up, 1.23 is the next level to watch.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: The 200-day ma at 1.1015 looks exposed – Commerzbank FX Street 2 years GBP/USD bounces off lows, climbs further beyond 1.2200 while Thursday's four-hour chart is painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports. Key quotes “GBP/USD has dropped below the 50 Simple Moving Average on the four-hour chart yet momentum remains to the upside, balancing the picture. The cable trades below the 100 and 200 SMAs and the Relative Strength Index is balanced.” “Support awaits at 1.2165, a former double-bottom that provided support last week. Further down, the May trough of 1.2075 is the next level to watch.” “Some resistance is at 1.2270, which was a swing low in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
