GBP/USD Tuesday’s four-hour chart is showing overbought conditions, as FXStreet’s analyst Yohay Elam notes. Key quotes “The Relative Strength Index on the four-hour chart is just above 70 – indicating overbought conditions. On the other hand, momentum is to the upside and the currency pair trades above the 50, 100, and 200 Simple Moving Averages.” “The daily high of 1.2575 is the immediate resistance line. It is followed by 1.2635 and 1.2710.” “Support awaits at 1.2490, which was a stubborn cap in late March and early April. It is followed by 1.24, a psychologically significant level which is also the confluence of the 50 and 200 SMAs.” 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 Crude Oil Futures: Further weakness probable FX Street 2 years GBP/USD Tuesday's four-hour chart is showing overbought conditions, as FXStreet’s analyst Yohay Elam notes. Key quotes “The Relative Strength Index on the four-hour chart is just above 70 – indicating overbought conditions. On the other hand, momentum is to the upside and the currency pair trades above the 50, 100, and 200 Simple Moving Averages.” “The daily high of 1.2575 is the immediate resistance line. It is followed by 1.2635 and 1.2710.” “Support awaits at 1.2490, which was a stubborn cap in late March and early April. It is followed by 1.24, a psychologically significant level which is also the… 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.
