GBP/USD pullback from the lowest since July 24 flashed the previous day. Ascending trend line from March 20 adds to the upside barriers. 200-day EMA, a four-month-old support line can challenge the bears. GBP/USD retraces from the multi-day low to 1.2812 during the early Friday morning in Asia. Even so, 100-day EMA and a six-month-old resistance line, previous support, question the pair’s consolidation amid bearish MACD. As a result, the quote’s another attempt to break the 200-day EMA level of 1.2750 can’t be ruled out. In doing so, the early-July tops surrounding 1.2670/65 will be on the sellers’ radars. In a case where GBP/USD prices remain weak below 1.2665, an upward slopping trend line from May 18, at 1.2550 now, will be the key. Alternatively, a daily close beyond the 100-day EMA level of 1.2830 will have to cross the support-turned-into-resistance, around 1.2875, to regain the power in attacking August month’s low near 1.2985/80. It should, however, be noted that the 1.3000 psychological magnet and August 24 bottom close to 1.3055 will challenge the bulls after 1.2985. GBP/USD daily chart Trend: Bearish 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 USD/CAD Price Analysis; 1:3 R/R but setup, target 1.3300 FX Street 3 years GBP/USD pullback from the lowest since July 24 flashed the previous day. Ascending trend line from March 20 adds to the upside barriers. 200-day EMA, a four-month-old support line can challenge the bears. GBP/USD retraces from the multi-day low to 1.2812 during the early Friday morning in Asia. Even so, 100-day EMA and a six-month-old resistance line, previous support, question the pair’s consolidation amid bearish MACD. As a result, the quote’s another attempt to break the 200-day EMA level of 1.2750 can’t be ruled out. In doing so, the early-July tops surrounding 1.2670/65 will be on the sellers’ radars. In… 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.
