GBP/USD stands on slippery ground, drops for third consecutive day. Repeated failures to cross 10-day SMA, downside break of 21-day SMA favor sellers. January tops, key Fibonacci retracement levels lure the bears below the key support line. GBP/USD bears attack weekly low while refreshing the intraday bottom with 1.3867, down 0.12% on a day, during Friday’s Asian session. In doing so, the cable extends weakness below 10-day SMA after breaking 21-day SMA the previous day. Given the downward sloping RSI line, GBP/USD is ready to refresh the weekly low and extend the latest declines towards an ascending support line from December 21, 2020, at 1.3807 now. However, January’s top near 1.3760-55 will challenge the quote’s further downside below the key support line, if not then 50% and 61.8% Fibonacci retracement levels of December 2020 to February 2021 upside, respectively around 1.3690 and 1.3560, should test the GBP/USD bears. Meanwhile, pullback moves not only need to cross the 21-day SMA level of 1.3920 but should also clear the 1.3990 level comprising 10-day SMA on a daily closing to recall the GBP/USD buyers. It’s worth mentioning that the 1.4000 threshold adds to the upside filters. GBP/USD daily chart Trend: Further weakness 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 RBNZ steps up its weekly target for bond purchases, NZD/USD off the lows FX Street 1 year GBP/USD stands on slippery ground, drops for third consecutive day. Repeated failures to cross 10-day SMA, downside break of 21-day SMA favor sellers. January tops, key Fibonacci retracement levels lure the bears below the key support line. GBP/USD bears attack weekly low while refreshing the intraday bottom with 1.3867, down 0.12% on a day, during Friday's Asian session. In doing so, the cable extends weakness below 10-day SMA after breaking 21-day SMA the previous day. Given the downward sloping RSI line, GBP/USD is ready to refresh the weekly low and extend the latest declines towards an ascending support line from… 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.
