“¢ The pair extended the previous session’s sharp rejection slide from 200-hour SMA, or weekly tops, and dropped to fresh one-month lows in the last hour. “¢ Given the overnight fake breakout through over two-week-old descending trend-channel, the price action clearly points to persistent selling bias. “¢ Technical indicators on hourly charts maintained their bearish bias and have been gaining negative traction on the daily chart, reinforcing the negative outlook. “¢ Hence, a sustained weakness below the 1.2800 handle might prompt some fresh technical selling and pave the way for a test of the descending trend-channel support. GBP/USD 1-hourly chart GBP/USD Overview: Today Last Price: 1.2811 Today Daily change %: -0.29% Today Daily Open: 1.2848 Trends: Daily SMA20: 1.3 Daily SMA50: 1.2821 Daily SMA100: 1.2882 Daily SMA200: 1.3014 Levels: Previous Daily High: 1.2959 Previous Daily Low: 1.2848 Previous Weekly High: 1.3103 Previous Weekly Low: 1.2854 Previous Monthly High: 1.3214 Previous Monthly Low: 1.2438 Daily Fibonacci 38.2%: 1.289 Daily Fibonacci 61.8%: 1.2917 Daily Pivot Point S1: 1.2811 Daily Pivot Point S2: 1.2773 Daily Pivot Point S3: 1.2699 Daily Pivot Point R1: 1.2922 Daily Pivot Point R2: 1.2997 Daily Pivot Point R3: 1.3034 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 challenges 1.2800, monthly lows, ahead of Brexit debate FX Street 3 years "¢ The pair extended the previous session's sharp rejection slide from 200-hour SMA, or weekly tops, and dropped to fresh one-month lows in the last hour. "¢ Given the overnight fake breakout through over two-week-old descending trend-channel, the price action clearly points to persistent selling bias. "¢ Technical indicators on hourly charts maintained their bearish bias and have been gaining negative traction on the daily chart, reinforcing the negative outlook. "¢ Hence, a sustained weakness below the 1.2800 handle might prompt some fresh technical selling and pave the way for a test… 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.
