GBP/USD fails to extend Friday’s losses while staying beyond 1.2900 mark. Normal RSI, bullish chart pattern offer additional clues for the bulls to watch. Sellers may eye the monthly low on conquering the channel’s support. GBP/USD print mild gains around 1.2930 during the initial Asian trading on Monday. The Cable recently picked up bids after taking a U-turn from 200-HMA. While considering the normal RSI conditions and the latest bounce, not to forget a one-week-old ascending trend channel formation, the quote is likely to print further recovery. In doing so, 1.2945/50 and 1.2975 may offer immediate resistance to the buyers ahead of Friday’s top near the 1.3000 threshold. During the quote’s run-up beyond 1.3000, 50% Fibonacci retracement of September 04-11 downside, at 1.3040, can become GBP/USD buyers’ favorite ahead of the resistance line of the aforementioned rising channel, currently around 1.3055. Alternatively, the lower line of the channel, at 1.2900, can add a floor to the pair’s downside below the 200-HMA level of 1.2911. Though, GBP/USD weakness below 1.2900 may attack the monthly bottom surrounding 1.2765/60. GBP/USD hourly chart Trend: Further recovery 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 NZD/USD levelling out ahead of the RBNZ FX Street 2 years GBP/USD fails to extend Friday’s losses while staying beyond 1.2900 mark. Normal RSI, bullish chart pattern offer additional clues for the bulls to watch. Sellers may eye the monthly low on conquering the channel’s support. GBP/USD print mild gains around 1.2930 during the initial Asian trading on Monday. The Cable recently picked up bids after taking a U-turn from 200-HMA. While considering the normal RSI conditions and the latest bounce, not to forget a one-week-old ascending trend channel formation, the quote is likely to print further recovery. In doing so, 1.2945/50 and 1.2975 may offer immediate resistance to the buyers… 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.
