GBP/USD drops to two-day low while extending pullback from 1.2250. Bearish MACD keeps sellers hopeful to refresh monthly low. Buyers will look for entry beyond 1.2300. GBP/USD declines to 1.2217, down 0.20% on a day, after refreshing the two-day low by 1.2207 during Thursday’s Asian session. In doing so, the Cable extends its U-turn from the session start the top of 1.2250, not to forget magnifying the pair’s failure to cross 1.2300 during the current week. That said, bearish MACD also favors the pair’s further fall toward a 100-HMA level of 1.2200, a break of which could drag it further down to 23.6% Fibonacci retracement of May 08-17 fall, around 1.2170/65. During the pair’s extended fall below 1.2165, 1.2120 and the monthly low of 1.2075 will be on the sellers’ radars. Alternatively, the pair’s pullback moves need to cross 1.2300 to challenge 61.8% Fibonacci retracement level of 1.2320 and aim for March 12 top near 1.2380. GBP/USD hourly chart Trend: Bearish 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 NZD/USD Price Analysis: 2020 falling trendline breached, but follow-through elusive FX Street 2 years GBP/USD drops to two-day low while extending pullback from 1.2250. Bearish MACD keeps sellers hopeful to refresh monthly low. Buyers will look for entry beyond 1.2300. GBP/USD declines to 1.2217, down 0.20% on a day, after refreshing the two-day low by 1.2207 during Thursday’s Asian session. In doing so, the Cable extends its U-turn from the session start the top of 1.2250, not to forget magnifying the pair’s failure to cross 1.2300 during the current week. That said, bearish MACD also favors the pair’s further fall toward a 100-HMA level of 1.2200, a break of which could drag it further… Top 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.
