GBP/USD is retracing down from the daily highs, now challenging the 1.2900 handle. Brexit headlines are the main Cable drivers. GBP/USD daily chart The Sterling, on the daily chart, had a spike above the main daily simple moving averages (DSMAs) while reaching levels not seen since mid-May 2019. The Brexit deal optimism fuelled the GBP euphoria of the last weeks. GBP/USD four-hour chart The Cable is trading in a bull channel above the main SMAs. However, the market is retracing down now, challenging the 1.2881 support level, according to the Technical Confluences Indicator. GBP/USD 30-minute chart GBP/USD is challenging the 200 SMA, suggesting a pullback down in the near term. If bears can break 1.2881, then the market could have a drop towards the 1.2814 level, according to the Technical Confluences Indicator. On the flip side, if the spot regains the 1.2950 resistance, it can open the doors to a retest of the 1.3000 handle. 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 AUD/NZD: Further losses? – Westpac FX Street 3 years GBP/USD is retracing down from the daily highs, now challenging the 1.2900 handle. Brexit headlines are the main Cable drivers. GBP/USD daily chart The Sterling, on the daily chart, had a spike above the main daily simple moving averages (DSMAs) while reaching levels not seen since mid-May 2019. The Brexit deal optimism fuelled the GBP euphoria of the last weeks. GBP/USD four-hour chart The Cable is trading in a bull channel above the main SMAs. However, the market is retracing down now, challenging the 1.2881 support level, according to the Technical Confluences… 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.
