GBP/USD is down -0.11% on a day to 1.2405 as the pair displays bearish signs. Furthermore, Friday’s 4-hour chart is showing that momentum has turned to the downside, Yohay Elam, an analyst at FXStreet, reports. Key quotes “GBP/USD is capped by the downtrend support line that accompanies it since mid-June. It has recently dipped below the 200 Simple Moving Average on the 4-hour chart and momentum turned negative – bearish signs.” “Support awaits at 1.2380, a recent trough, followed by 1.2340, Friday’s low. Further down, 1.23 and 1.2250 date back to late May and early June.” “Resistance is at 1.2470, a swing high from earlier this week which also converges with the 50 SMA. The next line to watch is 1.25, a psychologically significant level, and then 1.2550, 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 Ripple Price Analysis: XRP/USD threatens major support below $0.1800 FX Street 2 years GBP/USD is down -0.11% on a day to 1.2405 as the pair displays bearish signs. Furthermore, Friday's 4-hour chart is showing that momentum has turned to the downside, Yohay Elam, an analyst at FXStreet, reports. Key quotes “GBP/USD is capped by the downtrend support line that accompanies it since mid-June. It has recently dipped below the 200 Simple Moving Average on the 4-hour chart and momentum turned negative – bearish signs.” “Support awaits at 1.2380, a recent trough, followed by 1.2340, Friday's low. Further down, 1.23 and 1.2250 date back to late May and early June.” “Resistance is at 1.2470,… 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.
