GBP/USD attracts some dip-buying interest and jumped to session tops. The set-up seems tilted in favour of bulls, albeit warrants some caution. The GBP/USD pair quickly reversed a mid-European session dip to the 1.2280 region and refreshed session tops, around the 1.2355-60 region in the last hour. Currently hovering around the 1.2335 region, traders are likely to wait for a sustained strength above 100-hour SMA before placing fresh bullish bets. Meanwhile, technical indicators on hourly charts maintained their bullish bias and support prospects for a further near-term appreciating move for the pair. However, oscillators on the daily chart – though have recovered from the negative territory – are yet to gain any meaningful traction and warrant some caution. Hence, any subsequent positive move is likely to confront some fresh supply near the 1.2365-70 region, above which the pair is likely to aim towards the 1.2400 mark. On the flip side, the 1.2300 mark now seems to protect the immediate downside, which if broken might negate the positive outlook and prompt some technical selling. GBP/USD 1-hourly chart Technical levels to watch 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 US NFP: COVID-19 impacts on the labour market – UOB FX Street 2 years GBP/USD attracts some dip-buying interest and jumped to session tops. The set-up seems tilted in favour of bulls, albeit warrants some caution. The GBP/USD pair quickly reversed a mid-European session dip to the 1.2280 region and refreshed session tops, around the 1.2355-60 region in the last hour. Currently hovering around the 1.2335 region, traders are likely to wait for a sustained strength above 100-hour SMA before placing fresh bullish bets. Meanwhile, technical indicators on hourly charts maintained their bullish bias and support prospects for a further near-term appreciating move for the pair. However, oscillators on the daily chart – though… 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.
