GBP/USD has hit a high of 1.1878 earlier in the day after bottoming out at 1.1409 beforehand – more than 450 pips. Friday’s four-hour chart is pointing to overbought conditions, according to FXStreet’s analyst Yohay Elam. Key quotes “GBP/USD has risen above the 30 mark on the four-hour chart, moving out of oversold conditions and allowing for new falls.” “The cable is still oversold on the daily chart. Momentum remains to the downside and the currency pair is well below the critical Simple Moving Averages.” “Some resistance is at the swing high of 1.18 seen on Thursday, followed by Friday’s daily high of 1.1878.” “Support is at 1.17, a round level that temporarily capped cable in recent days. The next round numbers of 1.16 and 1.15 are also of importance.” 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 EUR/USD risks further downside – UOB FX Street 2 years GBP/USD has hit a high of 1.1878 earlier in the day after bottoming out at 1.1409 beforehand – more than 450 pips. Friday's four-hour chart is pointing to overbought conditions, according to FXStreet’s analyst Yohay Elam. Key quotes “GBP/USD has risen above the 30 mark on the four-hour chart, moving out of oversold conditions and allowing for new falls.” “The cable is still oversold on the daily chart. Momentum remains to the downside and the currency pair is well below the critical Simple Moving Averages.” “Some resistance is at the swing high of 1.18 seen on Thursday, followed by Friday's… 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.
