GBP/USD gains traction for the ninth straight session as the cable climbed to fresh multi-month tops, around the 1.2975 region, and trades at 1.2964 as of writing in spite of the fact that Wednesday’s 4-hour chart is pointing to overbought conditions, FXStreet’s analyst Yohay Elam briefs. Key quotes “The Relative Strength Index on the 4-hour chart is around 70 – flirting with overbought conditions and implying a downside correction. Momentum remains upbeat and the currency pair is trading above the 50, 100, and 200 Simple Moving Averages, hinting of more gains if the correction is moderate.” “The daily high of 1.2975 is the first hurdle, and it is closely followed by the round 1.30 level. Further above, 1.3070 and 1.3150 come into play.” “Support awaits at 1.29, followed by 1.2845 and 1.2775. All served as stepping stones on the way up.” 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 Malaysia: Exports improvement could help the manufacturing sector – UOB FX Street 3 years GBP/USD gains traction for the ninth straight session as the cable climbed to fresh multi-month tops, around the 1.2975 region, and trades at 1.2964 as of writing in spite of the fact that Wednesday's 4-hour chart is pointing to overbought conditions, FXStreet’s analyst Yohay Elam briefs. Key quotes “The Relative Strength Index on the 4-hour chart is around 70 – flirting with overbought conditions and implying a downside correction. Momentum remains upbeat and the currency pair is trading above the 50, 100, and 200 Simple Moving Averages, hinting of more gains if the correction is moderate.” “The daily high of… 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.
