GBP/USD bullish recovery remains intact on the second day of the week. The level to beat for buyers is the 1.2600 resistance. GBP/USD daily chart Following the drop to 1985 lows in March, GBP/USD is rebounding sharply while the quote remains below the 100/200 simple moving averages (SMAs) on the daily chart but challenging the 50 SMA. The cable is also trading in one-month highs while nearing the 1.2600 figure. GBP/USD four-hour chart The cable is evolving above its main SMAs on the four-hour chart suggesting an upward momentum in the medium-term. The spot is nearing the 1.2600 figure, which, if broken to the upside could introduce scope to further advances towards the 1.2700 and 1.2800 levels. On the flip side, support can emerge near the 1.2500, 1.2400 and 1.2300 figures on any retracement down. Resistance: 1.2600, 1.2700, 1.2800 Support: 1.2500, 1.2400, 1.2300 Additional key levels 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 ECB’s Vasiliauskas: It’s the right time for coronabonds FX Street 2 years GBP/USD bullish recovery remains intact on the second day of the week. The level to beat for buyers is the 1.2600 resistance. GBP/USD daily chart Following the drop to 1985 lows in March, GBP/USD is rebounding sharply while the quote remains below the 100/200 simple moving averages (SMAs) on the daily chart but challenging the 50 SMA. The cable is also trading in one-month highs while nearing the 1.2600 figure. GBP/USD four-hour chart The cable is evolving above its main SMAs on the four-hour chart suggesting an upward momentum in the medium-term. The spot is nearing… 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.
