The GBP/USD pair is trading at daily highs above the 1.3080 mark despite Friday’s 4-hour chart is showing that momentum turned to the downside. On the flip side, support is seen at the daily low of 1.3048, FXStreet’s analyst Yohay Elam briefs. Key quotes “GBP/USD has fallen over the 50 Simple Moving Average on the 4-hour chart and momentum has turned negative – both bearish signs. Moreover, the recent swing high fell short of the previous one – a lower high – which is another downside driver.” “Support awaits at the daily low of 1.3048, followed by the stubborn 1.3005 which is the weekly low. Further down, 1.2950 and 1.2905 are eyed.” “The cable has just surpassed the initial resistance at the daily high of 1.3075, which is followed by the weekly high of 1.3135. Further above, 1.3183 is August’s peak.” 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 Eurozone Prelim GDP meets estimates with -12.1% QoQ in Q2, EUR/USD stays above 1.18 FX Street 2 years The GBP/USD pair is trading at daily highs above the 1.3080 mark despite Friday's 4-hour chart is showing that momentum turned to the downside. On the flip side, support is seen at the daily low of 1.3048, FXStreet’s analyst Yohay Elam briefs. Key quotes “GBP/USD has fallen over the 50 Simple Moving Average on the 4-hour chart and momentum has turned negative – both bearish signs. Moreover, the recent swing high fell short of the previous one – a lower high – which is another downside driver.” “Support awaits at the daily low of 1.3048, followed by the stubborn 1.3005… 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.
