GBP/USD fizzles upside momentum below 1.3100, still keeping the previous day’s recovery moves. A confluence of 10-day EMA, an ascending trend line from April 14 is the key support. Bulls will have to cross 1.3200 to regain control. GBP/USD eases to 1.3077 during Wednesday’s Asian session. The pair fails to extend the previous day’s upside beyond 1.3087, needless to mention about its pullback from the March highs near 1.3200. Also suggesting weakness in the Cable is the overbought RSI conditions. However, 10-day EMA and a four-month-old support line restrict the pair’s near-term downside around 1.2975, a break of which could direct sellers towards June month’s peak near 1.2815/10. Should the quote remains downbeat past-1.2810, 1.2800 will become a validation point to anticipate the further south-run targeting the early-July tops near 1.2675/70. Meanwhile, 1.3200 continues to become a tough nut to crack for the bulls. Though, pair’s intermediate attacks on 1.3100 and 1.3150 can’t be ruled out. 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 S&P 500: Futures snap two-day winning streak amid US stimulus deadlock FX Street 2 years GBP/USD fizzles upside momentum below 1.3100, still keeping the previous day’s recovery moves. A confluence of 10-day EMA, an ascending trend line from April 14 is the key support. Bulls will have to cross 1.3200 to regain control. GBP/USD eases to 1.3077 during Wednesday’s Asian session. The pair fails to extend the previous day’s upside beyond 1.3087, needless to mention about its pullback from the March highs near 1.3200. Also suggesting weakness in the Cable is the overbought RSI conditions. However, 10-day EMA and a four-month-old support line restrict the pair’s near-term downside around 1.2975, a break of which could… 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.
