GBP/USD nears the lowest since 1985 flashed the previous day. A short-term ascending triangle stops bears for a breath. An upside clearance can recall short-term buyers. GBP/USD remains on the back foot near 1.1495 during the early Asian session on Thursday. The Cable earlier slumped to the lowest since 1985 while trimming more than 500 pips daily. However, the following higher low formation portrayed an ascending triangle on the 30-minute chart. Sellers are waiting for fresh entries below the pattern’s support of 1.1485 to revisit the previous day’s low of 1.1450. Though, oversold RSI indicates the chances of the pair’s pullback, which in turn could challenge the pattern’s resistance line of 1.1665. Should there be a clear upside past-1.1665, the quote could extend the recovery gains to 1.1830 and 1.1900 ahead of targeting to regain 1.2000 mark. GBP/USD 30-minute chart Trend: Bearish 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 USD/CAD Price Analysis: Rises back to 1.46, eyes fresh four-year highs FX Street 2 years GBP/USD nears the lowest since 1985 flashed the previous day. A short-term ascending triangle stops bears for a breath. An upside clearance can recall short-term buyers. GBP/USD remains on the back foot near 1.1495 during the early Asian session on Thursday. The Cable earlier slumped to the lowest since 1985 while trimming more than 500 pips daily. However, the following higher low formation portrayed an ascending triangle on the 30-minute chart. Sellers are waiting for fresh entries below the pattern’s support of 1.1485 to revisit the previous day’s low of 1.1450. Though, oversold RSI indicates the chances of the pair’s… 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.
