In opinion of Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, Cable has now shifted its focus to a potential move to the 1.2770 region. Key Quotes “GBP/USD is showing signs of failure at the psychological resistance at 1.3000 and the recent high at 1.3013. Directly above here we have the 200 week ma at 1.3109, the 50% retracement of the move down from 2018 at 1.3167, the 5 year downtrend at 1.3170 and the 1.3187 May high and this is tough resistance and we look for the market to fail here”. “Near term risk is shifting to the downside and attention is on the 1.2768 current November low. Failure at 1.2768 would probably see a slide to the 200 day ma at 1.2703. This guards the 1.2582 September high. Below 1.2582 lies the 1.2493 uptrend line. It guards 1.2196/94″. 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/JPY Technical Analysis: Target is now at the 120.65/70 band FX Street 3 years In opinion of Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, Cable has now shifted its focus to a potential move to the 1.2770 region. Key Quotes "GBP/USD is showing signs of failure at the psychological resistance at 1.3000 and the recent high at 1.3013. Directly above here we have the 200 week ma at 1.3109, the 50% retracement of the move down from 2018 at 1.3167, the 5 year downtrend at 1.3170 and the 1.3187 May high and this is tough resistance and we look for the market to fail here". "Near term risk is shifting to the downside… 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.
