GBP/USD recovers towards short-term key resistance-confluence. Bears can aim for a mark below 1.2000 if recent low breaks. Unless successfully breaking nearby resistance-confluence, GBP/USD isn’t expected to carry the latest recovery forward as it trades around 1.2164 while heading into the UK open on Wednesday. The said confluence region close to 1.2205/10 includes 50-hour moving average (HMA) and four-day-old descending trend-line, a break of which can trigger the pair’s fresh upside towards 1.2280 and 61.8% Fibonacci retracement level of latest declines, at 1.2370. However, pair’s advances past-1.2370 will find multiple barriers near 1.2425/30 that holds the gate to its run-up in the direction to July 24 high near 1.2522. On the downside, sellers can aim for 1.2100 on the break of 1.2120 whereas 2017 low of 1.1987 will be on their radars afterward. GBP/USD hourly chart Trend: Bearish 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 JPY Futures: extra upside not ruled out FX Street 4 years GBP/USD recovers towards short-term key resistance-confluence. Bears can aim for a mark below 1.2000 if recent low breaks. Unless successfully breaking nearby resistance-confluence, GBP/USD isn't expected to carry the latest recovery forward as it trades around 1.2164 while heading into the UK open on Wednesday. The said confluence region close to 1.2205/10 includes 50-hour moving average (HMA) and four-day-old descending trend-line, a break of which can trigger the pair's fresh upside towards 1.2280 and 61.8% Fibonacci retracement level of latest declines, at 1.2370. However, pair's advances past-1.2370 will find multiple barriers near 1.2425/30 that holds the gate to its run-up… 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.
