GBP/USD stands on a slippery ground after flashing a bearish candlestick formation on Friday. An upward sloping trend line from April lures the short-term bears. Bulls will wait for a clear break of 1.3200 to defy the claims of a pullback. GBP/USD declines to 1.3065, down 0.18% on a day, during the initial hour of Tokyo open on Monday. The quote’s latest moves follow Friday’s bearish candlestick formation on the daily chart. The same gains support from oversold RSI conditions to favor the sellers. As a result, the Cable is likely to extend its recent weakness towards the resistance-turned-support line from mid-April, currently around 1.2975. However, 1.3000 round-figures might offer immediate support. Should the pair drops below 1.2975, its further downside to June month’s high near 1.2815 can’t be ruled out. On the flip side, buyers may attack 1.3100 to challenge March month’s high near 1.3200. However, any strong upside following that will target the yearly top near 1.3260/65. 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 USD/CAD Price Analysis: Bulls have a bumpy road above 1.3400 FX Street 3 years GBP/USD stands on a slippery ground after flashing a bearish candlestick formation on Friday. An upward sloping trend line from April lures the short-term bears. Bulls will wait for a clear break of 1.3200 to defy the claims of a pullback. GBP/USD declines to 1.3065, down 0.18% on a day, during the initial hour of Tokyo open on Monday. The quote’s latest moves follow Friday’s bearish candlestick formation on the daily chart. The same gains support from oversold RSI conditions to favor the sellers. As a result, the Cable is likely to extend its recent weakness towards the resistance-turned-support line… 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.
