Sustained trading below early-month low drags the GBP/USD to fresh low since March 2017. Bears refrain from respecting oversold RSI, target multi-month old support-line. Following its downpour beneath the early-month low, the GBP/USD pair drops to fresh 28-month low as it trades near 1.2177 during early Tuesday. While bears are targeting a downward-sloping trend-line since mid-August 2018, at 1.2110 now, oversold levels of 14-bar relative strength index (RSI) can keep the quote’s further declines limited. On the upside, July 17 low around 1.2380 acts as near-term key resistance ahead of highlighting January bottom surrounding 1.2440. Further, the 21-day exponential moving average (EMA) level of 1.2458 may entertain buyers. GBP/USD daily 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 Scotland’s Sturgeon: UK PM Johnson is pursuing a no-deal Brexit, extremely dangerous for Scotland FX Street 4 years Sustained trading below early-month low drags the GBP/USD to fresh low since March 2017. Bears refrain from respecting oversold RSI, target multi-month old support-line. Following its downpour beneath the early-month low, the GBP/USD pair drops to fresh 28-month low as it trades near 1.2177 during early Tuesday. While bears are targeting a downward-sloping trend-line since mid-August 2018, at 1.2110 now, oversold levels of 14-bar relative strength index (RSI) can keep the quote's further declines limited. On the upside, July 17 low around 1.2380 acts as near-term key resistance ahead of highlighting January bottom surrounding 1.2440. Further, the 21-day exponential moving… 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.
