GBP/USD prints mild gains while consolidating recent upside moves. Bearish chart pattern, failures to refresh monthly high keep bears hopeful. 200-HMA adds to the downside filter, normal RSI conditions favor no change in recent pullback. GBP/USD stays heavy around 1.3545, down 0.08% intraday, during the initial hour of Tokyo open on Monday. In doing so, the pair portrays a bearish chart pattern on the hourly (1H) formation. While the multiple pullbacks from 1.3619/24 area join normal RSI conditions to suggest further weakness in GBP/USD prices, sellers will wait for the confirmation of the rising wedge before taking entries. As a result, a clear downside break of 1.3525, also piercing off the 200-HMA level of 1.3460 becomes necessary for the GBP/USD bears to cheer. Following that, the previous week’s low near 1.3190 can offer an intermediate halt before dragging the quote to the monthly bottom surrounding 1.3135. Alternatively, an upside clearance of 1.3624 needs to cross the upper line of the stated rising wedge, currently around 1.3630, to target the March 2018 low near 1.3710. GBP/USD hourly 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 WTI snaps 7-week winning trend, trades near $47.90 FX Street 2 years GBP/USD prints mild gains while consolidating recent upside moves. Bearish chart pattern, failures to refresh monthly high keep bears hopeful. 200-HMA adds to the downside filter, normal RSI conditions favor no change in recent pullback. GBP/USD stays heavy around 1.3545, down 0.08% intraday, during the initial hour of Tokyo open on Monday. In doing so, the pair portrays a bearish chart pattern on the hourly (1H) formation. While the multiple pullbacks from 1.3619/24 area join normal RSI conditions to suggest further weakness in GBP/USD prices, sellers will wait for the confirmation of the rising wedge before taking entries. As a… 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.
