GBP/USD is bouncing off the lowest point since 1985. GBP/USD correction up is stabilizing near 1.1800 figure. GBP/USD daily chart This Thursday, the Bank of England (BOE) cut interest rates and added 200 billion in Quantitative Easing (QE). GBP/USD is currently rebounding from the 1985 lows. GBP/USD four-hour chart GBP/USD is correcting higher while trading well below its main SMAs, suggesting an overall bearish bias. The 1.1700, 1.1800 and 1.1900 figures are acting as resistance as the current rebound could be classified as a dead-cat-bounce, which implies that the market could remain vulnerable to the downside. Bears would need to regain the 1.1700 level on a daily closing basis. Resistance: 1.1600, 1.1730, 1.1800 Support: 1.1485, 1.1400, 1.1300 Additional key levels 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 GBP/USD: UK events for the next week FX Street 2 years GBP/USD is bouncing off the lowest point since 1985. GBP/USD correction up is stabilizing near 1.1800 figure. GBP/USD daily chart This Thursday, the Bank of England (BOE) cut interest rates and added 200 billion in Quantitative Easing (QE). GBP/USD is currently rebounding from the 1985 lows. GBP/USD four-hour chart GBP/USD is correcting higher while trading well below its main SMAs, suggesting an overall bearish bias. The 1.1700, 1.1800 and 1.1900 figures are acting as resistance as the current rebound could be classified as a dead-cat-bounce, which implies that the market could remain vulnerable to the… 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.
