GBP/USD remains weak around the seven-day low. Prices continue the pullback from 50-day SMA amid bearish MACD. An ascending trend line from early-November 2019, 50% Fibonacci retracement can question the sellers. GBP/USD declines to 1.2920 during Thursday’s Asian session. In doing so, the pair extends its U-turn from 50-day SMA while nearing the key support trend line from November 2019. Also supporting the odds of the pair’s further declines could be the bearish MACD. As a result, sellers target the multi-week-old support line, at 1.2885 as the immediate support ahead of aiming the 50% Fibonacci retracement of the pair’s October-December 2019 upside, at 1.2855. However, the pair’s further downside below 1.2855 can only have November 2019 low of 1.2770 to please the sellers ahead of challenging them with 1.2700/2695 confluence that includes 61.8% Fibonacci retracement and 200-day SMA. On the contrary, a clear upside beyond 50-day SMA level of 1.3060 enables the buyers to aim for the monthly high hear 1.3070 ahead of confronting 1.3200 resistance, comprising the 23.6% Fibonacci retracement. 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 Breaking: Bullish Aussie Unemployment Rate back to 5.3% vs 5.2% expected, AUD slides FX Street 2 years GBP/USD remains weak around the seven-day low. Prices continue the pullback from 50-day SMA amid bearish MACD. An ascending trend line from early-November 2019, 50% Fibonacci retracement can question the sellers. GBP/USD declines to 1.2920 during Thursday’s Asian session. In doing so, the pair extends its U-turn from 50-day SMA while nearing the key support trend line from November 2019. Also supporting the odds of the pair’s further declines could be the bearish MACD. As a result, sellers target the multi-week-old support line, at 1.2885 as the immediate support ahead of aiming the 50% Fibonacci retracement of the pair’s October-December… 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.
