GBP/USD continues to look north with a flag breakout on the daily chart. The impending golden crossover could invite stronger buying pressure. The path of least resistance for the GBP/USD pair remains to the higher side despite Tuesday’s 0.19% drop. The daily chart shows the pair is holding the support at 1.2922 – the upper edge of the bull flag, which was breached to the higher side on Friday. Put simply, the flag breakout or the bullish continuation pattern and is accompanied by a falling channel breakout on the 14-day relative strength index. Further, the 50-day moving average is looking set to cross the 200-day moving average in the next few days. The impending golden cross could bolster the bullish sentiment. The pair, therefore, remains on track to test and possibly break above the psychological hurdle of 1.30. The bullish case would weaken if the spot finds acceptance under 1.29. Daily chart Trend: Bullish Technical levels 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 USD/IDR Technical Analysis: Buyers look for clear break of multi-month-old falling triangle FX Street 3 years GBP/USD continues to look north with a flag breakout on the daily chart. The impending golden crossover could invite stronger buying pressure. The path of least resistance for the GBP/USD pair remains to the higher side despite Tuesday's 0.19% drop. The daily chart shows the pair is holding the support at 1.2922 - the upper edge of the bull flag, which was breached to the higher side on Friday. Put simply, the flag breakout or the bullish continuation pattern and is accompanied by a falling channel breakout on the 14-day relative strength index. Further, the 50-day moving average… 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.
