GBP/USD stays depressed following the break of an eight-day-old rising trend line. Failures to cross March month’s high, lower high formation favor sellers. Bulls seek a clear break of 1.3200 to extend the previous upside. GBP/USD eases to 1.3070 during Tuesday’s Asian session. The Cable prints the third day of losses after it took a U-turn from March top during Friday. The weakness takes clues from a recent break below a short-term ascending trend line stretched from July 23. The pair currently targets to revisit 1.3000 round-figure comprising horizontal support, a break of which could direct the sellers towards a 200-HMA level of 1.2925. However, any more downside past-1.2925 will make the quote vulnerable to test 61.8% Fibonacci retracement level of July 22-31 upside, at 1.2845. Meanwhile, the support-turned-resistance near 1.3106 limits the pair’s immediate upside ahead of the March month’s top close to 1.3200. In a case where the bulls dominate past-1.3200, there are multiple resistances to tackle before attacking the yearly top surrounding 1.3285. GBP/USD hourly chart Trend: Pullback 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 AUD/USD: Rebound in Aussie exports fails to lift the AUD FX Street 3 years GBP/USD stays depressed following the break of an eight-day-old rising trend line. Failures to cross March month’s high, lower high formation favor sellers. Bulls seek a clear break of 1.3200 to extend the previous upside. GBP/USD eases to 1.3070 during Tuesday’s Asian session. The Cable prints the third day of losses after it took a U-turn from March top during Friday. The weakness takes clues from a recent break below a short-term ascending trend line stretched from July 23. The pair currently targets to revisit 1.3000 round-figure comprising horizontal support, a break of which could direct the sellers towards a… 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.
