GBP/USD repeats its inability to stay bid beyond 1.2500, currently trading around 1.2470, as Tuesday’s 4-hour chart is showing that cable is capped under downtrend resistance, FXStreet’s analyst Yohay Elam briefs. Key quotes “Cable is capped under a moderate downtrend resistance line set by lower highs. Momentum on the 4-hour chart has turned to the downside but the GBP/USD pair is still holding above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart.” “Support awaits at 1.2440, a low point early in the month, followed by 1.24, a stubborn cap from last week.” “Resistance is at 1.2525, Monday’s high, followed by 1.2550, the late June peak.” 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 Singapore: Manufacturing sector remains under pressure – UOB FX Street 3 years GBP/USD repeats its inability to stay bid beyond 1.2500, currently trading around 1.2470, as Tuesday's 4-hour chart is showing that cable is capped under downtrend resistance, FXStreet’s analyst Yohay Elam briefs. Key quotes “Cable is capped under a moderate downtrend resistance line set by lower highs. Momentum on the 4-hour chart has turned to the downside but the GBP/USD pair is still holding above the 50, 100, and 200 Simple Moving Averages on the 4-hour chart.” “Support awaits at 1.2440, a low point early in the month, followed by 1.24, a stubborn cap from last week.” “Resistance is at 1.2525,… 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.
