GBP/USD bounces off the multi-month low. A short-term resistance line questions the immediate recovery, 100 and 200-HMA can check further upside. A short-term falling trend line could restrict nearby declines. Following its drop to refresh 18-month low, GBP/USD bounces off to 1.2115, up 0.50%, amid the Asian session on Wednesday. Even so, the pair stays below one-week-old falling trend line resistance. Not only the immediate resistance line, currently at 1.2145, but 100-HMA and 200-HMA, respectively around 1.2410 and 1.2705 also question the pair’s recovery moves. Additionally, 1.2280 and 1.2520 are some extra filters during the quote’s further advances. Meanwhile, September 2019 low near 1.1960 and a descending trend line connecting lows marked from last Friday, near 1.1950, will challenge bears below the latest bottom surrounding 1.2000. 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 S&P global ratings says Asia-pacific economic growth in 2020 will more than halve to less than 3%. FX Street 2 years GBP/USD bounces off the multi-month low. A short-term resistance line questions the immediate recovery, 100 and 200-HMA can check further upside. A short-term falling trend line could restrict nearby declines. Following its drop to refresh 18-month low, GBP/USD bounces off to 1.2115, up 0.50%, amid the Asian session on Wednesday. Even so, the pair stays below one-week-old falling trend line resistance. Not only the immediate resistance line, currently at 1.2145, but 100-HMA and 200-HMA, respectively around 1.2410 and 1.2705 also question the pair’s recovery moves. Additionally, 1.2280 and 1.2520 are some extra filters during the quote’s further advances. Meanwhile, September… 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.
