GBP/USD holds onto recovery gains. 200-HMA, 61.8% Fibonacci retracement add to the resistances. The weekly support line restricts the immediate downside. Following its recovery gains from Tuesday, GBP/USD probes a short-term resistance while taking the bids near 1.2820, up 0.08%, during early Wednesday. Unless registering a sustained break beyond 1.2820, the Cable prices are less likely to take aim at a 200-Hour Moving Average (HMA) level of 1.2887. Also adding to the upside barriers is 61.8% Fibonacci retracement of February25-28 declines, at 1.2907 now. Meanwhile, an ascending trend line from Monday, near 1.2790, acts as the immediate support to watch during the pair’s fresh declines. In a case where bears dominate below 1.2790, February month low near 1.2725 will be in the spotlight. GBP/USD hourly chart Trend: Further recovery 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 AUD/USD Price Analysis: Rejected at 0.6615, bullish indicator divergence intact FX Street 3 years GBP/USD holds onto recovery gains. 200-HMA, 61.8% Fibonacci retracement add to the resistances. The weekly support line restricts the immediate downside. Following its recovery gains from Tuesday, GBP/USD probes a short-term resistance while taking the bids near 1.2820, up 0.08%, during early Wednesday. Unless registering a sustained break beyond 1.2820, the Cable prices are less likely to take aim at a 200-Hour Moving Average (HMA) level of 1.2887. Also adding to the upside barriers is 61.8% Fibonacci retracement of February25-28 declines, at 1.2907 now. Meanwhile, an ascending trend line from Monday, near 1.2790, acts as the immediate support to watch… 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.
