GBP/USD recovers from intraday low of 1.3660 in the latest uptick. Short-term symmetrical triangle restricts immediate moves inside a bearish chart pattern. 200-bar SMA adds to the downside filter, multiple upside barriers probe bulls beyond 1.3700. UK Employment report suggests another positive surprise for December. GBP/USD picks up bids to near 1.3675, up 0.05% intraday, during the latest bounce amid Tuesday’s Asian trading. In doing so, the cable takes a U-turn from the support line of a one-week-old symmetrical triangle. Although normal RSI conditions and sustained trading beyond 200-bar SMA keep GBP/USD buyers hopeful, the pair’s three-week-old rising wedge pattern probe the bulls. Even so, the latest corrective pullback eyes the upper line of the stated triangle, at 1.3715 now, before directing GBP/USD bulls to the monthly high near 1.3750. Also acting as the upside filter is the upper line of the bearish chart pattern as well as the early February 2018 low near 1.3765. On the contrary, a downside break of the triangle, while breaking 1.3655 immediate support, will tease the rising wedge’s lower line around 1.3600. It should be noted that the 200-bar SMA near 1.3540-35 acts as extra support to validate the pair’s south-run targeting December 22 low near 1.3300. To sum up, GBP/USD technical perspective gets interesting ahead of the key jobs report for December. Read: UK Jobs Preview: Another positive surprise? GBP/USD could use a shot in the arm GBP/USD four-hour chart Trend: Sideways 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 PBOC’s Advisor Ma: China should abandon GDP target – MNI FX Street 1 year GBP/USD recovers from intraday low of 1.3660 in the latest uptick. Short-term symmetrical triangle restricts immediate moves inside a bearish chart pattern. 200-bar SMA adds to the downside filter, multiple upside barriers probe bulls beyond 1.3700. UK Employment report suggests another positive surprise for December. GBP/USD picks up bids to near 1.3675, up 0.05% intraday, during the latest bounce amid Tuesday’s Asian trading. In doing so, the cable takes a U-turn from the support line of a one-week-old symmetrical triangle. Although normal RSI conditions and sustained trading beyond 200-bar SMA keep GBP/USD buyers hopeful, the pair’s three-week-old rising wedge pattern… 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.
