The GBP/USD pair has cleared the falling trendline from Oct. 16 highs on Brexit optimism, confirming that a temporary low has been made at 1.2696. The spot has also found acceptance above the 50-hour and 100-hour EMAs, which has bottomed out (shed bearish bias). However, the hourly relative strength index (RSI) is reporting overbought conditions. Hence, a break above the 200-hour EMA of 1.2860 may remain elusive for the next couple of hours. Moreover, a minor pullback could yield a more sustained move above the key average. The bullish view would be negated if the currency pair falls back below the trendline. Hourly Chart Trend: Bullish GBP/USD Overview: Last Price: 1.2849 Daily change: 83 pips Daily change: 0.650% Daily Open: 1.2766 Trends: Daily SMA20: 1.3012 Daily SMA50: 1.3015 Daily SMA100: 1.3048 Daily SMA200: 1.3441 Levels: Daily High: 1.2832 Daily Low: 1.2699 Weekly High: 1.3092 Weekly Low: 1.2777 Monthly High: 1.326 Monthly Low: 1.2696 Daily Fibonacci 38.2%: 1.2781 Daily Fibonacci 61.8%: 1.275 Daily Pivot Point S1: 1.2699 Daily Pivot Point S2: 1.2632 Daily Pivot Point S3: 1.2565 Daily Pivot Point R1: 1.2832 Daily Pivot Point R2: 1.2899 Daily Pivot Point R3: 1.2966 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 Moody’s: China’s plan to cut personal taxes is credit negative FX Street 4 years The GBP/USD pair has cleared the falling trendline from Oct. 16 highs on Brexit optimism, confirming that a temporary low has been made at 1.2696. The spot has also found acceptance above the 50-hour and 100-hour EMAs, which has bottomed out (shed bearish bias). However, the hourly relative strength index (RSI) is reporting overbought conditions. Hence, a break above the 200-hour EMA of 1.2860 may remain elusive for the next couple of hours. Moreover, a minor pullback could yield a more sustained move above the key average. The bullish view would be negated if the currency pair falls back below… 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.
