GBP/USD bears catch a breath near a short-term key support line. Close to oversold RSI conditions also favor the pair’s pullback beyond 23.6% Fibonacci retracement. December 2019 low will be the key to watch during further downside. GBP/USD looks for a clear direction near 1.3000 amid the Asian session on Tuesday. The pair registered heaviest losses, -1.6%, during the previous day while staying above the three-week-old support line. In addition to the immediate trend line support, around 1.2980, close to oversold conditions of RSI also increase the odds of the pair’s pullback. With this, 23.6% Fibonacci retracement of its declines from December 12 to 23, 2019, at 1.3050, could regain buyers’ attention during the pullback, a break of which recall 1.3100 and January 23 highs near 1.3150. During the pair’s advances past-1.3150, 50% Fibonacci retracement level close to 1.3210 will be the key to watch. On the flip side, the pair’s break of the immediate support line, at 1.2980, could please sellers with 1.2950 and December 2019 low of 1.2905. GBP/USD four-hour 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 ANZ slashes 2020 forecasts on US Treasury yields FX Street 2 years GBP/USD bears catch a breath near a short-term key support line. Close to oversold RSI conditions also favor the pair’s pullback beyond 23.6% Fibonacci retracement. December 2019 low will be the key to watch during further downside. GBP/USD looks for a clear direction near 1.3000 amid the Asian session on Tuesday. The pair registered heaviest losses, -1.6%, during the previous day while staying above the three-week-old support line. In addition to the immediate trend line support, around 1.2980, close to oversold conditions of RSI also increase the odds of the pair’s pullback. With this, 23.6% Fibonacci retracement of its declines… 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.
