GBP/USD probes the highest since May 2018, flashed on Wednesday. Upper line of short-term channel, 2.5-month-long ascending trend line probe upside momentum. Bears will refrain entries unless breaking bullish chart pattern. GBP/USD buyers attack an intraday high of 1.3512, up 0.18% on a day, during Thursday’s Asian session. The cable rose to the fresh multi-month high the previous day while staying inside an ascending trend channel formation establishes since mid-September. Though, a rising trend line connecting highs marked from September 01, at 1.3546 now, challenges the pair’s further upside. As a result, the GBP/USD prices may witness a pullback unless successfully crossing the immediate resistance line and the upper line of the stated channel, respectively around 1.3545 and 1.3555. In a case where the bulls manage to cross the 1.3555 mark on a daily closing, an upward sloping trend line from March 2020, near 1.3660, will be in the spotlight. On the flip side, 1.3515 and December 11 top near 1.3325 can offer immediate supports during GBP/USD pullback. It should, however, be noted that the bears are less likely to get serious unless witnessing a downside break of channel support, at 1.3158 now. GBP/USD daily chart Trend: Pullback 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 EUR/NZD Price Analysis: If at first you don’t succeed… FX Street 2 years GBP/USD probes the highest since May 2018, flashed on Wednesday. Upper line of short-term channel, 2.5-month-long ascending trend line probe upside momentum. Bears will refrain entries unless breaking bullish chart pattern. GBP/USD buyers attack an intraday high of 1.3512, up 0.18% on a day, during Thursday’s Asian session. The cable rose to the fresh multi-month high the previous day while staying inside an ascending trend channel formation establishes since mid-September. Though, a rising trend line connecting highs marked from September 01, at 1.3546 now, challenges the pair’s further upside. As a result, the GBP/USD prices may witness a pullback unless… 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.
