The Sterling is consolidating its intraday gains near key resistance in the New York session. Support is seen at 1.2340 and 1.2315 price levels, according to the Technical Confluences Indicator. GBP/USD daily chart GBP/USD is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, Sterling is trying to create a double bottom as the market is nearing the 1.2400 figure. GBP/USD four-hour chart GBP/USD is consolidating the intraday gains just near the 1.2366 key resistance as the market is trading above its main SMAs. Bulls’ objective is to climb above 1.2366 on a daily closing basis. The next resistances on the way up can be at 1.2410 and 1.2444 price levels, according to the Technical Confluences Indicator. GBP/USD 30-minute chart The Pound is trading above its main SMAs, suggesting bullish momentum in the near term. Bears need to reclaim the 1.2341 and 1.2315 support to generate a more meaningful retracement towards 1.2263 support, according to the Technical Confluences Indicator. Additional key 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 Stellar market update: XLM/USD hovers under $0.06 FX Street 4 years The Sterling is consolidating its intraday gains near key resistance in the New York session. Support is seen at 1.2340 and 1.2315 price levels, according to the Technical Confluences Indicator. GBP/USD daily chart GBP/USD is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, Sterling is trying to create a double bottom as the market is nearing the 1.2400 figure. GBP/USD four-hour chart GBP/USD is consolidating the intraday gains just near the 1.2366 key resistance as the market is trading above its main SMAs. Bulls' objective is to climb above… 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.
