GBP/USD holds onto recovery gains from 1.2389. Bullish candlestick near four-day low, normal RSI favor further recovery. 50-day and 100-day EMAs offer additional upside barriers. Monthly low offers strong support under 1.2400. GBP/USD recedes from the intraday high of 1.2430 to 1.2421 as Tokyo opens for trading on Friday. Even so, the Cable carries the previous day’s pullback to near a descending resistance line while justifying the bullish Doji formation on the daily chart. Considering the pair’s U-turn backed by normal RSI conditions, the quote might cross the nearby upside barrier, at 1.2440 now. However, 50-day EMA, at 1.2460, could challenge the further upside. In a case where the bulls dominate past-1.2460, a 10-day EMA level of 1.2512 and Wednesday’s top near 1.2545 could flash on their radars. Alternatively, the pair’s declines below Thursday’s low of 1.2389 could again attack the monthly bottom surrounding 1.2325 and May 19 top near 1.2300. GBP/USD daily 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 Bitcoin Price Forecast: BTC/USD continues freefall as bears remain in control for the fourth straight day FX Street 2 years GBP/USD holds onto recovery gains from 1.2389. Bullish candlestick near four-day low, normal RSI favor further recovery. 50-day and 100-day EMAs offer additional upside barriers. Monthly low offers strong support under 1.2400. GBP/USD recedes from the intraday high of 1.2430 to 1.2421 as Tokyo opens for trading on Friday. Even so, the Cable carries the previous day’s pullback to near a descending resistance line while justifying the bullish Doji formation on the daily chart. Considering the pair’s U-turn backed by normal RSI conditions, the quote might cross the nearby upside barrier, at 1.2440 now. However, 50-day EMA, at 1.2460, could… 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.
