Friday’s four-hour chart is showing the cable’s failure to crack critical resistance at 1.2360, Yohay Elam, an analyst at FXStreet, informs. See: GBP/USD above 1.2363 would break the March downtrend to re-expose the April highs at 1.2643/48 – Credit Suisse Key quotes “While cable has set higher lows and benefits from upside momentum, its failure to conquer the 1.2360 level for the third time in recent days may not bode well. That level also converges with downtrend resistance and also the 200 Simple Moving Average.” “Some support awaits at 1.2240, which has been separating ranges in recent days. It is followed by 1.2210, a low point early in the week.” “Resistance beyond 1.2360 is only at 1.2470, followed by 1.2510.” 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 Weekly Forecast: XRP/USD stares into consolidation under $0.20 as Bitcoin spikes past $9,600 FX Street 3 years Friday's four-hour chart is showing the cable's failure to crack critical resistance at 1.2360, Yohay Elam, an analyst at FXStreet, informs. See: GBP/USD above 1.2363 would break the March downtrend to re-expose the April highs at 1.2643/48 – Credit Suisse Key quotes “While cable has set higher lows and benefits from upside momentum, its failure to conquer the 1.2360 level for the third time in recent days may not bode well. That level also converges with downtrend resistance and also the 200 Simple Moving Average.” “Some support awaits at 1.2240, which has been separating ranges in recent days. It is… 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.
