Bearish MACD joins sustained trading below the support line (now resistance). An upside clearance of 1.3000 becomes necessary to disappoint sellers. Not only bearish signals from MACD and RSI but pair’s sustained trading below the short-term key trend line also portrays its weakness as it trades near 1.2865 ahead of the London open on Wednesday. While the 12-bar Moving Average Convergence and Divergence (MACD) histogram flashes red signals, 14-bar Relative Strength Index (RSI) stays well above the oversold conditions and indicates a continuation of the present downpour. Also adding strength to the declines is the pair’s extended weakness below one-week-old rising trend line. With this, highs marked on October 15 and 11, around 1.2800 and 1.2700 respectively, could keep the sellers entertain ahead of challenging them with September 20 top, close to 1.2590, likely to be bears’ favorite then after. Alternatively, pair’s upside seems to have a strong resistance around 1.3000/10 area, a successful break of which becomes necessary for buyers to target May month high around 1.3180. GBP/USD 4-hour 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 GBP/USD will find it hard to recover after falling from the highs “” Confluence Detector FX Street 3 years Bearish MACD joins sustained trading below the support line (now resistance). An upside clearance of 1.3000 becomes necessary to disappoint sellers. Not only bearish signals from MACD and RSI but pair's sustained trading below the short-term key trend line also portrays its weakness as it trades near 1.2865 ahead of the London open on Wednesday. While the 12-bar Moving Average Convergence and Divergence (MACD) histogram flashes red signals, 14-bar Relative Strength Index (RSI) stays well above the oversold conditions and indicates a continuation of the present downpour. Also adding strength to the declines is the pair's extended weakness below one-week-old… 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.
