GBP/USD Monday’s four-hour chart is pointing to near-oversold conditions, Yohay Elam, an analyst at FXStreet, informs. Key quotes “The Relative Strength Index on the four-hour chart is flirting with the 30 level – on the verge of oversold conditions, which would imply a bounce. On the other hand, the cable is trading below the 50, 100, and 200 Simple Moving Averages and momentum remains to the downside.” “The fresh seven-month low of 1.2075 is the immediate line of support. It is followed by 1.1980, which was a temporary high in March.” “Resistance is at 1.2160, a former double bottom, followed by 1.2250, which also had the same role before succumbing to pressure.” 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 AUD/USD: Bulls re-attempt 0.6450 as Gold sees fresh leg higher FX Street 2 years GBP/USD Monday's four-hour chart is pointing to near-oversold conditions, Yohay Elam, an analyst at FXStreet, informs. Key quotes “The Relative Strength Index on the four-hour chart is flirting with the 30 level – on the verge of oversold conditions, which would imply a bounce. On the other hand, the cable is trading below the 50, 100, and 200 Simple Moving Averages and momentum remains to the downside.” “The fresh seven-month low of 1.2075 is the immediate line of support. It is followed by 1.1980, which was a temporary high in March.” “Resistance is at 1.2160, a former double bottom, followed… 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.
