GBP/USD early April’s daily chart is showing the death cross pattern, as FXStreet’s analyst Yohay Elam notes. Key quotes “GBP/USD is still suffering from downside momentum on the daily chart and is trading below the 50, 100, and 200-day Simple Moving Averages. However, momentum is off the lows, and the Relative Strength Index has stabilized.” “Resistance awaits at 1.2330, a support line from late March. Further up, 1.2485, which was a stubborn cap in late March and early April. The next noteworthy cap is only at 1.2670, which is the confluence of the 50 and 200-day SMAs.” “Some support awaits at 1.2240, a swing low from the same period and also a support line from early April. It is emerging as a double-bottom. Next, 1.2110 was a stepping stone on the way down and 1.1980 capped GBP/USD capped it on the way up.” 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 Fed’s Daly: Jobless numbers won’t stay big if we fight pandemic and get through this faster FX Street 2 years GBP/USD early April's daily chart is showing the death cross pattern, as FXStreet’s analyst Yohay Elam notes. Key quotes “GBP/USD is still suffering from downside momentum on the daily chart and is trading below the 50, 100, and 200-day Simple Moving Averages. However, momentum is off the lows, and the Relative Strength Index has stabilized.” “Resistance awaits at 1.2330, a support line from late March. Further up, 1.2485, which was a stubborn cap in late March and early April. The next noteworthy cap is only at 1.2670, which is the confluence of the 50 and 200-day SMAs.” “Some support awaits… 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.
