GBP/USD is setting lower lows and lower highs – a bearish trend as the late May’s daily chart is showing bears are in control, Yohay Elam, an analyst at FXStreet, informs. Key quotes “The cable has failed to break above the 50-day Simple Moving Average. While downside momentum is minor, the GBP/USD pair trades below the 100 and 200-day SMAs.” “Initial support awaits at 1.2165, which cushioned the currency pair twice in recent months. The May low of 1.2085 is the next level to watch.” “Resistance is at 1.2250, a former double-bottom, followed by 1.23, a round number that was a high point in mid-May.” 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 S&P 500 Price Analysis: US stocks parked below the 3000 mark FX Street 3 years GBP/USD is setting lower lows and lower highs – a bearish trend as the late May's daily chart is showing bears are in control, Yohay Elam, an analyst at FXStreet, informs. Key quotes “The cable has failed to break above the 50-day Simple Moving Average. While downside momentum is minor, the GBP/USD pair trades below the 100 and 200-day SMAs.” “Initial support awaits at 1.2165, which cushioned the currency pair twice in recent months. The May low of 1.2085 is the next level to watch.” “Resistance is at 1.2250, a former double-bottom, followed by 1.23, a round number that was… 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.
