GBP/USD extends pullback from 1.3108 towards crossing immediate resistance line. MACD conditions, sustained trading beyond 1.3100 favor the bulls. An ascending trend line from July 28 restricts short-term downside. GBP/USD takes the bids near 1.3135, up 0.21% on a day, during Thursday’s Asian session. The Cable recently bounced off 1.3108 to print a two-day winning streak. In doing so, the quote aims to confront an immediate resistance trend line. With the MACD teasing bulls, the pair is more likely to overcome a downward sloping trend line from July 31, at 1.3160 now, which in turn could quickly propel the pair towards March high near 1.3200. However, July month’s high of 1.3170 may act as a validation point for the further rise. Should the bulls remain dominant part-1.3200, the yearly top of 1.3261 and December 2019 peak surrounding 1.3515 could gain market attention. On the contrary, 1.3100 acts as a nearby rest for the sellers during the fresh downside ahead of an ascending support line near 1.3025. It’s worth mentioning that the pair’s declines below 1.3025 will not give free entry to sellers as 200-HMA near 1.3010 and the 1.3000 threshold will be the tough nut to break for the bears. GBP/USD hourly chart Trend: Bullish 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 sets yuan reference rate at 6.9438 FX Street 2 years GBP/USD extends pullback from 1.3108 towards crossing immediate resistance line. MACD conditions, sustained trading beyond 1.3100 favor the bulls. An ascending trend line from July 28 restricts short-term downside. GBP/USD takes the bids near 1.3135, up 0.21% on a day, during Thursday’s Asian session. The Cable recently bounced off 1.3108 to print a two-day winning streak. In doing so, the quote aims to confront an immediate resistance trend line. With the MACD teasing bulls, the pair is more likely to overcome a downward sloping trend line from July 31, at 1.3160 now, which in turn could quickly propel the pair… 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.
