GBP/USD’s bounce last week failed to make any impression on the 55-day ma and will remain directly offered while capped by it at 1.2297, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, briefs. See: GBP/USD Confluence Detector Key quotes “Attention is still on the 50% retracement of the March-to-April advance at 1.2030 below which lies the minor psychological 1.2000 mark. Further down sit the September low at 1.1958 and the March 20 high at 1.1935.” “A drop below 1.1935 is needed to refocus attention on 1.1491, the 2016 low, and also on the March low at 1.1409. Fibonacci support en route is found at 1.1883 and at 1.1675.” “Near-term rallies should find initial resistance at the 55-day moving average at 1.2297. Further resistance can be spotted at the 1.2468 May 8 high ahead of the 200-day ma at 1.2659.” 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 French FinMin Le Maire: State aid to tackle coronavirus has cost the state 20% of GDP FX Street 3 years GBP/USD’s bounce last week failed to make any impression on the 55-day ma and will remain directly offered while capped by it at 1.2297, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, briefs. See: GBP/USD Confluence Detector Key quotes “Attention is still on the 50% retracement of the March-to-April advance at 1.2030 below which lies the minor psychological 1.2000 mark. Further down sit the September low at 1.1958 and the March 20 high at 1.1935.” “A drop below 1.1935 is needed to refocus attention on 1.1491, the 2016 low, and also on the March low at 1.1409. Fibonacci support en… 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.
