GBP/USD inches closer to the one-week-old rising support line. “Double top” formation around 1.2988/90 caps immediate upside. The GB/USD pair’s pullback from last week’s “double tops” seems to have little downside as a week old rising trend line stands tall to challenge sellers. The pair declines to 1.2894 by the press time that precedes the London open on Monday. While seeing together, a short-term symmetrical triangle between 1.2867 and 1.2990 is likely the key for the pair traders with the falling level of 14-bar Relative Strength Index (RSI) also favoring a bounce from near-term key support line. Should prices fail to bounce off 1.2867, 1.2700 and mid-month bottoms close to 1.2515 will gain sellers’ attention. On the upside, 1.3000 can validate the pair’s run-up beyond 1.2990. In doing so, May month high close to 1.3180 could lure bulls. GBP/USD hourly chart Trend: bullish 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 looks vulnerable ahead of another rocky day in parliament “” Confluence Detector FX Street 3 years GBP/USD inches closer to the one-week-old rising support line. "Double top" formation around 1.2988/90 caps immediate upside. The GB/USD pair's pullback from last week's "double tops" seems to have little downside as a week old rising trend line stands tall to challenge sellers. The pair declines to 1.2894 by the press time that precedes the London open on Monday. While seeing together, a short-term symmetrical triangle between 1.2867 and 1.2990 is likely the key for the pair traders with the falling level of 14-bar Relative Strength Index (RSI) also favoring a bounce from near-term key support line. Should prices fail… 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.
