GBP/USD shows no major action near two-week high, seesaws around 1.2330/35. MACD turns bullish for the first time in 15 days. A confluence of 50-day EMA, descending trend line from March 09 challenges the buyers. Having flashed over 1.0% gains the previous day, GBP/USD buyers catch a breather around 1.2330/35 amid the early Asian session on Wednesday. While bulls are cheering the MACD histogram’s favor after many days, fresh entries are likely awaiting the sustained break of 1.2370/80 area including 50-day EMA and a falling trend line from March 09. Should the bulls manage to cross 1.2380 on a daily closing basis, 100-day EMA and 61.8% Fibonacci retracement of the pair’s March month’s declines, around 1.2505/15, will become the buyers’ favorite. On the contrary, sellers will hesitate to enter unless witnessing a break below the ten-week-old rising support line, at 1.2370 now. Though, odds of the pair’s pullback to Monday’s top near 1.2200 can’t be ruled out. GBP/USD daily chart Trend: Bullish 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 Gold bears pause around two-week low above $1,700 FX Street 3 years GBP/USD shows no major action near two-week high, seesaws around 1.2330/35. MACD turns bullish for the first time in 15 days. A confluence of 50-day EMA, descending trend line from March 09 challenges the buyers. Having flashed over 1.0% gains the previous day, GBP/USD buyers catch a breather around 1.2330/35 amid the early Asian session on Wednesday. While bulls are cheering the MACD histogram’s favor after many days, fresh entries are likely awaiting the sustained break of 1.2370/80 area including 50-day EMA and a falling trend line from March 09. Should the bulls manage to cross 1.2380 on a daily… 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.
