GBP/USD trades just under flat on Thursday. The price met an important resistance zone and dips back below 1.25. GBP/USD 4-hour chart GBP/USD lost some of its upside momentum after the impressive NFP data on Thursday. Despite the data maybe GBP moved too far too fast as it did impress against the likes of the EUR recently too. Looking at the technicals, the price recently has broken out of the blue channel zone to move higher. Just today the move has been cut short at the resistance zone at 1.2530. The resistance level is the wave low from the first move lower back on 12th June. This could be considered the wave 1-2 low by Elliott Wave analysts. Now there has been a rejection the top of the purple channel could be tested again. The main target for the bears will be the red support zone at 1.2257. The technical indicators are still painting a bullish picture. The MACD histogram is still green but more importantly, the signal lines are above the mid-zone. The Relative Strength Index has pulled away from the overbought level but is still holding above 50. 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 EUR/GBP to head on towards 0.92 on a 1 to 3 month view – Rabobank FX Street 3 years GBP/USD trades just under flat on Thursday. The price met an important resistance zone and dips back below 1.25. GBP/USD 4-hour chart GBP/USD lost some of its upside momentum after the impressive NFP data on Thursday. Despite the data maybe GBP moved too far too fast as it did impress against the likes of the EUR recently too. Looking at the technicals, the price recently has broken out of the blue channel zone to move higher. Just today the move has been cut short at the resistance zone at 1.2530. The resistance level is the wave low from the first… 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.
