GBP/USD trades around 1.2970, modestly flat on the day, having reversed from daily lows of 1.2941. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, maintains a bearish bias while the cable trades below the 20-DMA at 1.3101 and looks for a slump towards 1.2250. Key quotes “GBP/USD’s bounce from the 200-day ma at 1.2729 has been tepid and so far has remained capped by the 20-day ma at 1.3101. While below here we will maintain a negative bias. “Loss of 1.2690 Fibo support should be enough to trigger a slide to 1.2445 and then 1.2250/00.” “The 20-day ma guards the recent high at 1.3483 and the 1.3522 downtrend.” 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 EUR/USD to surge towards 1.20 on a break above 1.1880 – OCBC FX Street 2 years GBP/USD trades around 1.2970, modestly flat on the day, having reversed from daily lows of 1.2941. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, maintains a bearish bias while the cable trades below the 20-DMA at 1.3101 and looks for a slump towards 1.2250. Key quotes “GBP/USD’s bounce from the 200-day ma at 1.2729 has been tepid and so far has remained capped by the 20-day ma at 1.3101. While below here we will maintain a negative bias. “Loss of 1.2690 Fibo support should be enough to trigger a slide to 1.2445 and then 1.2250/00.” “The 20-day ma… 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.
