GBP/USD is trading around 1.3080 after hitting daily highs at 1.3093. Meanwhile, Thursday’s 4-hour chart is showing downtrend resistance is looming over the cable, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Cable has bounced off the double-bottom of 1.3005 mentioned earlier and momentum on the 4-hour chart has turned positive – but only just. On the other hand, downside resistance – that began last week – is looming over GBP/USD.” “Resistance awaits at 1.31, where the downtrend currently hits the price. It is followed by 1.3135 is the next cap after holding pound/dollar down earlier this week and the August peak of 1.3183 is next.” “Below 1.3005, the next level to watch is 1.2950, which was a cushion in late July. It is followed by 1.2905 and 1.2845.” 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 Nikkei 225 to move sharply higher towards 24115 – Credit Suisse FX Street 2 years GBP/USD is trading around 1.3080 after hitting daily highs at 1.3093. Meanwhile, Thursday's 4-hour chart is showing downtrend resistance is looming over the cable, Yohay Elam, an analyst at FXStreet, reports. Key quotes “Cable has bounced off the double-bottom of 1.3005 mentioned earlier and momentum on the 4-hour chart has turned positive – but only just. On the other hand, downside resistance – that began last week – is looming over GBP/USD.” “Resistance awaits at 1.31, where the downtrend currently hits the price. It is followed by 1.3135 is the next cap after holding pound/dollar down earlier this week and… 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.
