GBP/USD stays mildly positive above monthly support line (previous resistance). May 08 top can lure buyers past-50-day SMA. Monthly low, key Fibonacci retracements can keep sellers hopeful during fresh declines. Despite stepping back from 50-day SMA the previous day, GBP/USD carries the break of monthly falling trend line while taking the bids near 1.2260 amid early Wednesday. That said, the pair aims to challenge May 08 high of 1.2467 beyond 1.2283 immediate resistance comprising 50-day SMA. During the quote’s further rise past-1.2467, highs marked during the April month around 1.2640/50 will be the key. Meanwhile, pair’s declines below the resistance-turned-support line of 1.236 can refresh the monthly low of 1.2075. However, 50% and 61.8% Fibonacci retracement of the pair’s March-April rise, respectively around 1.2025 and 1.1880, can check the bears below 1.2075. GBP/USD daily chart Trend: Pullback 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 BitLicense creator is back with a $140M Bitcoin fund FX Street 2 years GBP/USD stays mildly positive above monthly support line (previous resistance). May 08 top can lure buyers past-50-day SMA. Monthly low, key Fibonacci retracements can keep sellers hopeful during fresh declines. Despite stepping back from 50-day SMA the previous day, GBP/USD carries the break of monthly falling trend line while taking the bids near 1.2260 amid early Wednesday. That said, the pair aims to challenge May 08 high of 1.2467 beyond 1.2283 immediate resistance comprising 50-day SMA. During the quote’s further rise past-1.2467, highs marked during the April month around 1.2640/50 will be the key. Meanwhile, pair’s declines below the resistance-turned-support… 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.
