GBP/USD was rejected at 1.32 as Monday’s four-hour chart is showing rejection at the critical resistance, Yohay Elam, an analyst at FXStreet informs. Key quotes “The Relative Strength Index on the four-hour chart is above 70 – pointing to overbought conditions that imply a downside correction. GBP/USD was rejected at 1.32, which now turns into a triple top after holding the currency pair down in January and in February. It remains critical resistance.” “Other indicators are positive, with the cable trading above the 50, 100, and 200 Simple Moving Averages and momentum pointing to the upside.” “Above 132, the next line to watch is 1.3285, a peak from December, followed by 1.3310.” “Support awaits at 1.3070, which was a stubborn cap in February. It is followed by 1.3040, the daily low.” 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 Gold Price Analysis: Pullback from multi-year tops showed some resilience near $1660 level FX Street 2 years GBP/USD was rejected at 1.32 as Monday's four-hour chart is showing rejection at the critical resistance, Yohay Elam, an analyst at FXStreet informs. Key quotes “The Relative Strength Index on the four-hour chart is above 70 – pointing to overbought conditions that imply a downside correction. GBP/USD was rejected at 1.32, which now turns into a triple top after holding the currency pair down in January and in February. It remains critical resistance.” “Other indicators are positive, with the cable trading above the 50, 100, and 200 Simple Moving Averages and momentum pointing to the upside.” “Above 132, the next… 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.
