GBP/USD is tightly confined within a converging range (1.2217-1.2335) but is pushing hard into the resistance at 1.2335, currently trading at 1.2330, per Commerzbank. Key quotes “There is a support line at 1.2217 and a downtrend at 1.2335, a break out from this range is needed to give direction.” “Above 1.2335 focus can shift to the top of the range at 1.2643/61. Initial resistance lies at 1.2468 the 8th May high.” “Below 1.2217 lies the 50% retracement of the March-to-April advance at 1.2030 below which lies the minor psychological 1.2000 mark. Further down sit the September low at 1.1958 and the March 20 high at 1.1935.” 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 China’s Foreign Ministry: Oppose US action, urge it to stop frivolous political maneuvers FX Street 3 years GBP/USD is tightly confined within a converging range (1.2217-1.2335) but is pushing hard into the resistance at 1.2335, currently trading at 1.2330, per Commerzbank. Key quotes “There is a support line at 1.2217 and a downtrend at 1.2335, a break out from this range is needed to give direction.” “Above 1.2335 focus can shift to the top of the range at 1.2643/61. Initial resistance lies at 1.2468 the 8th May high.” “Below 1.2217 lies the 50% retracement of the March-to-April advance at 1.2030 below which lies the minor psychological 1.2000 mark. Further down sit the September low at 1.1958 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.
