“¢ The pair seesawed between tepid gains/minor losses through the mid-European session on Wednesday and was seen consolidating its recent slide to over two-month lows. “¢ Given the overnight breakthrough a descending triangle support, coinciding with the very important 200-day SMA, support prospects for an additional depreciating move. “¢ However, slightly oversold conditions on the 4-hourly chart seemed to be the only factor holding traders from placing aggressive bearish bets and limiting any further downside. “¢ Meanwhile, oscillators on the daily chart maintained their bearish bias and are still far from oversold territory, suggesting the emergence of fresh selling on every attempted bounce. “¢ Hence, any rebound towards the mentioned confluence support break-point, around the 1.2970 region, might be seen as an opportunity to initiate some fresh bearish positions. GBP/USD daily chart 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 EUR/JPY weaker, in multi-day lows near 125.40 FX Street 4 years "¢ The pair seesawed between tepid gains/minor losses through the mid-European session on Wednesday and was seen consolidating its recent slide to over two-month lows. "¢ Given the overnight breakthrough a descending triangle support, coinciding with the very important 200-day SMA, support prospects for an additional depreciating move. "¢ However, slightly oversold conditions on the 4-hourly chart seemed to be the only factor holding traders from placing aggressive bearish bets and limiting any further downside. "¢ Meanwhile, oscillators on the daily chart maintained their bearish bias and are still far from… 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.
