The cable Wednesday’s four-hour chart is pointing to further falls, according to Yohay Elam from FXStreet. GBP/USD is trading at 1.279, after failing to capitalize on the Fed’s rate cut. Key quotes “Momentum on the four-hour chart is to the downside, and the currency pair trades well below the 50, 100, and 200 Simple Moving Averages. Another bearish sign is that the Relative Strength Index is above 30 – outside oversold conditions.” “Some support awaits at the daily low of 1.2780, followed by 1.2760, which was a cushion early in the week.” “Looking up, 1.2850 is a strong resistance line after separating ranges in late February and early March.” 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 Malaysia: BNM reduced rates to 2.50% – UOB FX Street 2 years The cable Wednesday's four-hour chart is pointing to further falls, according to Yohay Elam from FXStreet. GBP/USD is trading at 1.279, after failing to capitalize on the Fed’s rate cut. Key quotes “Momentum on the four-hour chart is to the downside, and the currency pair trades well below the 50, 100, and 200 Simple Moving Averages. Another bearish sign is that the Relative Strength Index is above 30 – outside oversold conditions.” “Some support awaits at the daily low of 1.2780, followed by 1.2760, which was a cushion early in the week.” “Looking up, 1.2850 is a strong resistance line… 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.
