GBP/USD consolidates losses while heading towards the short-term resistance line. 200-bar SMA, another falling trend line resistance also challenge the buyers. November month low remains on the bears’ radars. GBP/USD rises 0.11% to 1.2942 by the press time of early Tuesday. The pair retraces the previous day’s losses while heading towards the near-term key resistances. Though, a higher number of the upside barriers will challenge the optimists. Among them, a one-week-old falling trend line at 1.2952 and another one declining from January 31, near 1.2985, hold the key to the pair’s run-up towards 200-bar SMA level of 1.3013. Should there be a further increase in the GBP/USD pair’s prices beyond 1.3013, 50% and 61.8% Fibonacci retracements of its declines between January 31 and February 20, respectively around 1.3030 and 1.3070, will question the buyers. On the downside, a three-day-long rising trend line near 1.2900 acts as the immediate support, a break of which could drag the quote towards the monthly low of 1.2849. Assuming the pair’s sustained declines below 1.2849, lows marked during the November month near 1.2820 and 1.2770 can lure the sellers. GBP/USD four-hour 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next EUR/USD Price Analysis: Positive above 10-day SMA as MACD teases buyers FX Street 2 years GBP/USD consolidates losses while heading towards the short-term resistance line. 200-bar SMA, another falling trend line resistance also challenge the buyers. November month low remains on the bears’ radars. GBP/USD rises 0.11% to 1.2942 by the press time of early Tuesday. The pair retraces the previous day’s losses while heading towards the near-term key resistances. Though, a higher number of the upside barriers will challenge the optimists. Among them, a one-week-old falling trend line at 1.2952 and another one declining from January 31, near 1.2985, hold the key to the pair’s run-up towards 200-bar SMA level of 1.3013. Should there… 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.
