GBP/USD Monday’s four-hour chart is pointing to losses for the cable, Yohay Elam, an analyst at FXStreet, reports. Commerzbank agrees with this view, as the currency pair remains directly offered below the 200-day ma at 1.2297. Key quotes “GBP/USD is suffering from downside momentum on the four-hour chart and trades below the 50, 100, and 200 Simple Moving Averages – all bearish signs. Moreover, it is capped by a downtrend channel that hits the price at around 1.2220.” “Support awaits at 1.2165, a former double bottom, and the daily low. It is followed by 1.2080, May’s trough, and by the psychologically significant 1.20 level.” “Some resistance is at 1.2190, the daily high, with the downtrend providing another cap. Next, 1.2250 was another double-bottom and 1.23 was the peak last week.” 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 US Dollar Index pushes higher and approaches 100.00 FX Street 3 years GBP/USD Monday's four-hour chart is pointing to losses for the cable, Yohay Elam, an analyst at FXStreet, reports. Commerzbank agrees with this view, as the currency pair remains directly offered below the 200-day ma at 1.2297. Key quotes “GBP/USD is suffering from downside momentum on the four-hour chart and trades below the 50, 100, and 200 Simple Moving Averages – all bearish signs. Moreover, it is capped by a downtrend channel that hits the price at around 1.2220.” “Support awaits at 1.2165, a former double bottom, and the daily low. It is followed by 1.2080, May's trough, and by the… 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.
