GBP/USD takes offers near intraday low, drops for the fifth day in a row. Bearish MACD, break of short-term key support line favor sellers. 50-day SMA offers immediate support, monthly top adds to the upside barriers. GBP/USD refreshes intraday low with 1.3802, currently around 1.3810, during its fifth day of declines on Tuesday. The cable recently broke an ascending support line, now resistance, from late December while bearish MACD signals exert additional downside pressure on the quote. As a result, the GBP/USD sellers seem currently targeting the 50-day SMA level of 1.3766 ahead of the key support line from November 2020, at 1.3730 now. Meanwhile, a corrective pullback beyond the previous support line of 1.3840 can cross the 1.3900 threshold but the monthly peak surrounding 1.4020 will be a tough nut to break afterward. In a case where GBP/USD bulls manage to cross 1.4020, the multi-month high flashed in February around 1.4240-45 should return to the chart. Overall, GBP/USD is ready to test the key support line while a break of which should reverse the uptrend from September 2020. GBP/USD daily chart Trend: Further weakness 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 Ethereum Price Analysis: ETH eases ahead of the key hurdle to $2,000 FX Street 1 year GBP/USD takes offers near intraday low, drops for the fifth day in a row. Bearish MACD, break of short-term key support line favor sellers. 50-day SMA offers immediate support, monthly top adds to the upside barriers. GBP/USD refreshes intraday low with 1.3802, currently around 1.3810, during its fifth day of declines on Tuesday. The cable recently broke an ascending support line, now resistance, from late December while bearish MACD signals exert additional downside pressure on the quote. As a result, the GBP/USD sellers seem currently targeting the 50-day SMA level of 1.3766 ahead of the key support line from November… 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.
