GBP/USD is nearing the 1.2270 level which was a swing low in early May and is where the 50 Simple Moving Average on the four-hour chart hits the price, FXStreet’s analyst Yohay Elam briefs. Key quotes “Momentum turned positive but only just. The cable still trades below the 100 and 200 SMAs while the Relative Strength Index is balanced.” “Above 1.2270, the next resistance lines are 1.2340, 1.2375, and 1.2460 were all stepping stones on the way down.” “Some support awaits at 1.2250, which is provided support in both April and May, and it is followed by 1.2165, a former double-bottom.” 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/IDR: Rupiah refreshes two-month tops on Bank Indonesia’s surprise status-quo FX Street 2 years GBP/USD is nearing the 1.2270 level which was a swing low in early May and is where the 50 Simple Moving Average on the four-hour chart hits the price, FXStreet’s analyst Yohay Elam briefs. Key quotes “Momentum turned positive but only just. The cable still trades below the 100 and 200 SMAs while the Relative Strength Index is balanced.” “Above 1.2270, the next resistance lines are 1.2340, 1.2375, and 1.2460 were all stepping stones on the way down.” “Some support awaits at 1.2250, which is provided support in both April and May, and it is followed by 1.2165, a former… Top 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.
