GBP/USD extends Friday’s recovery gains from 1.2438 to near the 1.25 level as Monday’s 4-hour chart is showing bulls have an advantage, Yohay Elam, an analyst at FXStreet, reports. Key quotes “GBP/USD is trading above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart and momentum is to the upside. However, it has been setting lower highs in recent days, taking some of the sting out of the bullish case.” “Resistance awaits at the daily high of 1.2510, followed by 1.2550, a peak in late June. The next levels to watch are 1.2620 or 1.2680.” “Support is at 1.2440, a low point on Friday, followed by 1.24, a round number that also capped cable last week.” 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 USD/CAD off 2-week lows, still on the defensive below mid-1.3500s FX Street 3 years GBP/USD extends Friday’s recovery gains from 1.2438 to near the 1.25 level as Monday's 4-hour chart is showing bulls have an advantage, Yohay Elam, an analyst at FXStreet, reports. Key quotes “GBP/USD is trading above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart and momentum is to the upside. However, it has been setting lower highs in recent days, taking some of the sting out of the bullish case.” “Resistance awaits at the daily high of 1.2510, followed by 1.2550, a peak in late June. The next levels to watch are 1.2620 or 1.2680.” “Support is… 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.
