GBP/USD picks up bids towards one-week-old falling trend line, 100-SMA. Upbeat RSI conditions, successful bounce off short-term resistance area signal further upside. GBP/USD extends the previous day’s recovery moves to 1.3760, up 0.07% intraday, amid Wednesday’s Asian session. In doing so, the cable keeps a one-week-old consolidation pattern from the key horizontal support zone comprising lows marked since March 24. However, bulls need to cross a confluence of 100-SMA and an immediate resistance line to justify the strength in targeting the 1.3800 threshold. Although a clear upside past-1.3800 enables the GBP/USD buyers to challenge March 29 top near 1.3845, any further rise will be questioned by the monthly top of 1.3920. On the contrary, pullback moves can recall 1.3730 and the 1.3700 round-figure on the chart before highlighting the 1.3670-75 horizontal support area. Should the GBP/USD sellers dominate below 1.3670, February’s low near 1.3566 will gain the market’s attention. GBP/USD four-hour 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 USD/JPY bears on top in Tokyo open FX Street 2 years GBP/USD picks up bids towards one-week-old falling trend line, 100-SMA. Upbeat RSI conditions, successful bounce off short-term resistance area signal further upside. GBP/USD extends the previous day's recovery moves to 1.3760, up 0.07% intraday, amid Wednesday's Asian session. In doing so, the cable keeps a one-week-old consolidation pattern from the key horizontal support zone comprising lows marked since March 24. However, bulls need to cross a confluence of 100-SMA and an immediate resistance line to justify the strength in targeting the 1.3800 threshold. Although a clear upside past-1.3800 enables the GBP/USD buyers to challenge March 29 top near 1.3845, any… 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.
