GBP/USD remains above 50-DMA amid bullish technical indicators. A sustained break of mid-July lows can validate the pair’s further upside. Even after staying beyond 50-day simple moving average (DMA) for the first time in four months, GBP/USD still refrain from further upside as it takes the rounds to 1.2320 while heading into the London open on Friday. Given the price-positive signals from 12-bar moving average convergence and divergence (MACD) and 14-bar relative strength index (RSI), an upside break of 1.2380/85 area including mid-July lows can propel prices further towards 100-DMA level of 1.2545. It should, however, be noted that pair’s run-up past-1.2545 will be questioned by a downward sloping trend-line since early-March, at 1.2690. On the contrary, pair’s decline below 50-DMA level of 1.2300 could trigger fresh declines to initial August month highs near 1.2210/2200 whereas 1.2080 and 1.2015 can offer intermediate halts before the pair drops to 1.2000 mark that has mostly held the pair’s south-run confined. 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 EUR/USD path of least resistance is down ahead of Non-Farm Payrolls, Powell – Confluence Detector FX Street 4 years GBP/USD remains above 50-DMA amid bullish technical indicators. A sustained break of mid-July lows can validate the pair's further upside. Even after staying beyond 50-day simple moving average (DMA) for the first time in four months, GBP/USD still refrain from further upside as it takes the rounds to 1.2320 while heading into the London open on Friday. Given the price-positive signals from 12-bar moving average convergence and divergence (MACD) and 14-bar relative strength index (RSI), an upside break of 1.2380/85 area including mid-July lows can propel prices further towards 100-DMA level of 1.2545. It should, however, be noted that pair's… 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.
