GBP/USD remains poised for additional gains amid favorable technicals. 200-HMA and bullish crossover keep the buyers hopeful. 100-HMA at 1.3625 is on sight amid bullish RSI. GBP/USD is setting the stage to extend Monday’s recovery, with the near-term technical setup favoring the bulls. On the hourly chart, the cable has entered a phase of consolidation around 1.3600. The bulls have managed to defend the 200-hourly moving average (HMA) support at 1.3598, keeping the prospects of further upside in place. Also, a bullish crossover is confirmed on the said time frame, with the 21-HMA having pierced the 50-HMA from above. The bull cross also adds credence to a likely move higher. The Relative Strength Index (RSI) points north while above the midline, allowing room for more gains. Therefore, the 100-HMA barrier at 1.3625 comes as the first line of resistance, above which the 1.3650 psychological level could be challenged. On the flip side, acceptance below the 200-HMA could call for a test of the critical support at 1.3589, where the 21 and 50-HMAs intersect. Further south, Friday’s low of 1.3572 could be challenged while Monday’s low of 1.3519 remains the last line of defense for the bulls. GBP/USD: Hourly chart GBP/USD: Additional levels 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 Gold Price Analysis: XAU/USD recovers further from multi-week lows, climbs to $1845 region FX Street 2 years GBP/USD remains poised for additional gains amid favorable technicals. 200-HMA and bullish crossover keep the buyers hopeful. 100-HMA at 1.3625 is on sight amid bullish RSI. GBP/USD is setting the stage to extend Monday’s recovery, with the near-term technical setup favoring the bulls. On the hourly chart, the cable has entered a phase of consolidation around 1.3600. The bulls have managed to defend the 200-hourly moving average (HMA) support at 1.3598, keeping the prospects of further upside in place. Also, a bullish crossover is confirmed on the said time frame, with the 21-HMA having pierced the 50-HMA from above. The bull… 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.
