GBP/USD has fallen toward the 2020 lows. Thursday’s four-hour chart is pointing to further falls for the cable, according to Yohay Elam from FXStreet. Key quotes “The recent fall has sent GBP/USD below the 50, 100, and 200 Simple Moving Averages that were converging around 1.30. Momentum remains to the downside and the Relative Strength Index is just above the 30 level – outside oversold conditions and implying further falls. “Overall, bears are in control.” “Initial support is at 1.2890, which was a swing low earlier this month. Critical support awaits at the 2020 trough of 1.2875.” 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 Vietnam: Lower 2020 growth forecast – Standard Chartered FX Street 2 years GBP/USD has fallen toward the 2020 lows. Thursday's four-hour chart is pointing to further falls for the cable, according to Yohay Elam from FXStreet. Key quotes “The recent fall has sent GBP/USD below the 50, 100, and 200 Simple Moving Averages that were converging around 1.30. Momentum remains to the downside and the Relative Strength Index is just above the 30 level – outside oversold conditions and implying further falls. “Overall, bears are in control.” “Initial support is at 1.2890, which was a swing low earlier this month. Critical support awaits at the 2020 trough of 1.2875.” 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.
