GBP/USD bounces-off strong trendline support ahead of BOE. Bulls need to recapture the 21-HMA barrier to extend the recovery. Hourly RSI turned south but remains in the bullish region. GBP/USD staged a solid comeback on the 1.2900 level so far this Thursday, although the bulls now appear to lack follow-through ahead of the Bank of England (BOE) monetary policy decision. The cable found solid bids at the five-day-long rising trendline support, now at 1.2908. However, the rebound faltered at the horizontal 21-Simple Moving Average on the hourly chart (HMA) at 1.2960. The hourly Relative Strength Index (RSI) holds in the bullish territory but points south, suggesting that the bounce could have run its course. The immediate support is now seen at the upward-sloping 50-HMA at 1.2921 while it battles the 200-HMA 1.2952, at the moment. To the top side, a firm break above 21-HMA could expose the 1.3000 level. GBP/USD: Hourly chart GBP/USD: Additional 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 US Dollar Index met resistance around 93.60, looks to data FX Street 1 year GBP/USD bounces-off strong trendline support ahead of BOE. Bulls need to recapture the 21-HMA barrier to extend the recovery. Hourly RSI turned south but remains in the bullish region. GBP/USD staged a solid comeback on the 1.2900 level so far this Thursday, although the bulls now appear to lack follow-through ahead of the Bank of England (BOE) monetary policy decision. The cable found solid bids at the five-day-long rising trendline support, now at 1.2908. However, the rebound faltered at the horizontal 21-Simple Moving Average on the hourly chart (HMA) at 1.2960. The hourly Relative Strength Index (RSI) holds in the… Top 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.
