GBP/USD seesaws around 1.2450/55 as Friday’s 4-hour chart is painting a mixed picture as cable failed to break above 1.2545 whereas the pair is well-supported while above the 1.2250 strong support line, FXStreet’s analyst Yohay Elam briefs. Key quotes “Cable bounced from the lows and topped the 50, 100, and 200 Simple Moving Averages on the 4-hour chart. Moreover, momentum remains to the upside. The bullish narrative is partially marred by the failure to break above 1.2545, the peak seen last week.” “Support awaits at the daily low of 1.2440, followed by 1.2360, which was a stepping stone in the recent recovery. The trough of 1.2250 is a strong support line.” “Initial resistance awaits at Thursday’s peak of 1.2530, followed by 1.2545 mentioned earlier. Next, 1.26 played a role in the past.” 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 NZD/USD Price Analysis: Poised to test 0.6580-85 area, June swing highs FX Street 3 years GBP/USD seesaws around 1.2450/55 as Friday's 4-hour chart is painting a mixed picture as cable failed to break above 1.2545 whereas the pair is well-supported while above the 1.2250 strong support line, FXStreet’s analyst Yohay Elam briefs. Key quotes “Cable bounced from the lows and topped the 50, 100, and 200 Simple Moving Averages on the 4-hour chart. Moreover, momentum remains to the upside. The bullish narrative is partially marred by the failure to break above 1.2545, the peak seen last week.” “Support awaits at the daily low of 1.2440, followed by 1.2360, which was a stepping stone in the… 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.
