GBP/USD fades upside momentum from 1.3013, the highest since March 10, and is down 0.35% on a day to 1.2950 as Thursday’s 4-hour chart is showing the cable has dropped off the uptrend channel, FXStreet’s analyst Yohay Elam reports. Key quotes “GBP/USD has slipped off the uptrend channel that had accompanied in the past week – a bearish sign. While momentum on the 4-hour chart remains positive, the Relative Strength Index is still close to 70 – potentially entering overbought conditions upon any small rise.” “Support awaits at 1.2910 and 1.2845, both serving as stepping stones on the way up. The next line to watch is 1.2775, which separated ranges late last week.” “Initial resistance is at 1.2975, which temporarily held sterling down on Thursday, and then the recent peak of 1.3010.” 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 Fed: Interest rate relief speculations to support stocks FX Street 3 years GBP/USD fades upside momentum from 1.3013, the highest since March 10, and is down 0.35% on a day to 1.2950 as Thursday's 4-hour chart is showing the cable has dropped off the uptrend channel, FXStreet’s analyst Yohay Elam reports. Key quotes “GBP/USD has slipped off the uptrend channel that had accompanied in the past week – a bearish sign. While momentum on the 4-hour chart remains positive, the Relative Strength Index is still close to 70 – potentially entering overbought conditions upon any small rise.” “Support awaits at 1.2910 and 1.2845, both serving as stepping stones on the way up.… 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.
