Bearish candlestick formation on daily chart keeps sellers’ watch over GBP/USD despite the recent pullback. 21-day SMA acts as the key to a monthly low. Bearish candlestick pattern doubts the GBP/USD pair’s latest recovery as the cable takes the bids to 1.2920 during Friday’s Asian session. Considering the bearish pin bar on the daily (D1) chart, prices are likely to liquidate the recent upside momentum unless breaking the latest high of 1.2986. In doing so, 1.3000 and the previous month high near 1.3013 will be on the short-term buyers’ radar whereas May month top close to 1.3180 will lure the bulls afterward. On the downside, sellers can target the 21-day Simple Moving Average (SMA) level of 1.2882 as immediate support ahead of watching over the monthly bottom surrounding 1.2770. Should bearish signals from the 12-bar Moving Average Convergence and Divergence (MACD) stay intact past-1.2770, October 11 high close to 1.2710 will return to the charts. GBP/USD daily chart Trend: Downside 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 technical analysis: 1.1052 is key support FX Street 3 years Bearish candlestick formation on daily chart keeps sellers' watch over GBP/USD despite the recent pullback. 21-day SMA acts as the key to a monthly low. Bearish candlestick pattern doubts the GBP/USD pair's latest recovery as the cable takes the bids to 1.2920 during Friday's Asian session. Considering the bearish pin bar on the daily (D1) chart, prices are likely to liquidate the recent upside momentum unless breaking the latest high of 1.2986. In doing so, 1.3000 and the previous month high near 1.3013 will be on the short-term buyers' radar whereas May month top close to 1.3180 will lure the… 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.
