GBP/USD retraces from the lowest in one week to regain 1.2800. Bearish MACD, monthly falling trend line keeps the sellers hopeful. Two-month-old horizontal support becomes the key, 1.3010/15 adds to the upside barriers. GBP/USD bounces off an intraday low of 1.2803 to 1.2817 during Tuesday’s Asian session. In doing so, the Cable traders trim the previous day’s losses. However, bearish MACD pushes the buyer to take entries only on the break of a descending trend line from September 01, currently around 1.2930. It should also be noted that a confluence of 38.2% Fibonacci retracement of June-September upside and 50-day SMA around 1.3010/15 will challenge the bulls afterward. Meanwhile, a horizontal area comprising July 21 top and the monthly low, between 1.2762 and 1.2767, provides crucial support to the pair. Also acting as downside barriers are the 61.8% Fibonacci retracement level and July 09 high, respectively close to 1.2720 and 1.2670. 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 PBOC sets yuan reference rate at 6.7872 FX Street 1 year GBP/USD retraces from the lowest in one week to regain 1.2800. Bearish MACD, monthly falling trend line keeps the sellers hopeful. Two-month-old horizontal support becomes the key, 1.3010/15 adds to the upside barriers. GBP/USD bounces off an intraday low of 1.2803 to 1.2817 during Tuesday’s Asian session. In doing so, the Cable traders trim the previous day’s losses. However, bearish MACD pushes the buyer to take entries only on the break of a descending trend line from September 01, currently around 1.2930. It should also be noted that a confluence of 38.2% Fibonacci retracement of June-September upside and 50-day SMA… Top 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.
