GBP/USD is sitting just above the 1.22 level, confined in a range. The cable’s technical outlook is showing that bears are gaining ground, according to FXStreet’s analyst Yohay Elam. Key quotes “GBP/USD has slipped below the 50 Simple Moving Average on the four-hour chart after battling it for several days. Upside momentum has all but disappeared and downtrend resistance is looming.” “Support awaits at 1.2185, which was a slow point earlier this week, followed by 1.2165, a former double bottom.” “Looking up, resistance is at 1.2250, a high point on Thursday, and a support line in April. The next cap is 1.23, the weekly high.” 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 Cryptocurrency Market News: Â Bitcoin slumps under $9,000 as Ethereum 2.0 testnet staking gains traction FX Street 2 years GBP/USD is sitting just above the 1.22 level, confined in a range. The cable’s technical outlook is showing that bears are gaining ground, according to FXStreet’s analyst Yohay Elam. Key quotes “GBP/USD has slipped below the 50 Simple Moving Average on the four-hour chart after battling it for several days. Upside momentum has all but disappeared and downtrend resistance is looming.” “Support awaits at 1.2185, which was a slow point earlier this week, followed by 1.2165, a former double bottom.” “Looking up, resistance is at 1.2250, a high point on Thursday, and a support line in April. The next cap… 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.
