GBP/USD consolidates recent losses in a range between 1.3270 and 1.3315. Daily closing below 21-day SMA, bearish MACD favor sellers. Seven-week-old ascending trend line adds to the upside barrier. GBP/USD battles 1.3300 in a recent upswing from 1.3288 during Friday’s initial Asian session. The sterling marked the heaviest losses in one month the previous day amid Brexit woes. The stated downside momentum flashed the first daily closing below 21-day SMA since early November amid bearish MACD signals. With this, the GBP/USD sellers are eyeing the October high near 1.3175 with the weekly bottom near 1.3225 acting as immediate support. However, an upward sloping trend line from June 29, at 1.3058 now, becomes the key to watch below 1.3175. On the contrary, an upside break of 21-day SMA, currently around 1.3335, can’t convince the GBP/USD bulls as an ascending trend line from October 21, near 1.3510, becomes a tough nut to crack. Also acting as the upside hurdles are the September high of 1.3482 and the monthly peak near 1.3540. 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 Breaking: US FDA approves Pfizer covid vaccine, risks remain positive FX Street 2 years GBP/USD consolidates recent losses in a range between 1.3270 and 1.3315. Daily closing below 21-day SMA, bearish MACD favor sellers. Seven-week-old ascending trend line adds to the upside barrier. GBP/USD battles 1.3300 in a recent upswing from 1.3288 during Friday’s initial Asian session. The sterling marked the heaviest losses in one month the previous day amid Brexit woes. The stated downside momentum flashed the first daily closing below 21-day SMA since early November amid bearish MACD signals. With this, the GBP/USD sellers are eyeing the October high near 1.3175 with the weekly bottom near 1.3225 acting as immediate support. However,… 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.
