GBP/USD register modest changes after pulling back from the monthly top the previous day. 50-HMA, two-day-old resistance line guard immediate upside. 61.8% Fibonacci retracement adds to the support. Despite staying modestly changed to 1.2520 amid the initial Asian session on Thursday, GBP/USD remains on the bears’ watch-list as being under the short-term key resistance confluence. Not only the pair’s sustained trading below 50-HMA and short-term falling trend line but normal RSI conditions amid weak price performance below 23.6% Fibonacci retracement of the early month’s upside also favor the sellers. Hence, a gradual fall towards a 200-HMA level of 1.2425 can’t be ruled out. However, 38.2% Fibonacci retracement and Wednesday’s low can offer intermediate halts around 1.2460 and 1.2435 respectively. Meanwhile, an upside clearance beyond 1.2560/65 resistance confluence can recall buyers targeting to refresh the monthly top above 1.2650. GBP/USD hourly chart Trend: Further declines expected 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 IMF: Asia’s economic growth this year will grind to a halt for the first time in 60 years FX Street 2 years GBP/USD register modest changes after pulling back from the monthly top the previous day. 50-HMA, two-day-old resistance line guard immediate upside. 61.8% Fibonacci retracement adds to the support. Despite staying modestly changed to 1.2520 amid the initial Asian session on Thursday, GBP/USD remains on the bears’ watch-list as being under the short-term key resistance confluence. Not only the pair’s sustained trading below 50-HMA and short-term falling trend line but normal RSI conditions amid weak price performance below 23.6% Fibonacci retracement of the early month's upside also favor the sellers. Hence, a gradual fall towards a 200-HMA level of 1.2425 can’t… 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.
