GBP/USD has slipped below the 1.31 mark though Friday’s 4-hour chart is painting a bullish picture. Yohay Elam, an analyst at FXStreet, notes that initial support awaits at 1.3085. On the flip side, resistance is seen at 1.3170. Key quotes “Momentum on the 4-hour chart remains positive, but it has somewhat diminished. GBP/USD continues trading above the 50, 100, and 200 Simple Moving Averages, and the Relative Strength Index is outside overbought conditions.” “Support awaits at the daily low of 1.3085, followed by 1.3055, which is where the 50 SMA hits the price. The next lines to watch are 1.2985 and 1.29.” “Resistance is at 1.3170, July’s high, followed by a fresh peak of 1.3183 and 1.32. Further above, 1.3270 and 1.3320 are of interest.” 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 retreats from 2020 highs above 1.19 ahead of NFP FX Street 2 years GBP/USD has slipped below the 1.31 mark though Friday's 4-hour chart is painting a bullish picture. Yohay Elam, an analyst at FXStreet, notes that initial support awaits at 1.3085. On the flip side, resistance is seen at 1.3170. Key quotes “Momentum on the 4-hour chart remains positive, but it has somewhat diminished. GBP/USD continues trading above the 50, 100, and 200 Simple Moving Averages, and the Relative Strength Index is outside overbought conditions.” “Support awaits at the daily low of 1.3085, followed by 1.3055, which is where the 50 SMA hits the price. The next lines to watch are 1.2985… Top 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.
