“¢ The pair extended overnight rejection slide from the vicinity of 100-day SMA and today’s downfall took it further below the 50-day SMA. “¢ The downward trajectory now seems to have stalled near a short-term ascending trend-line support, extending from YTD lows set in mid-August through September monthly lows. “¢ Former UK Foreign Minister Boris Johnson called on his supporters to back PM Theresa May in delivering a correct Brexit and helped ease the bearish pressure surrounding the British Pound. “¢ Meanwhile, technical indicators on the daily chart have started losing positive momentum and the corrective bounce failed to lift the pair back above important support break-points. “¢ The set-up now points to increased selling pressure and a convincing break through the mentioned trend-line support would further reinforce the near-term negative outlook. GBP/USD daily chart Spot Rate: 1.2971 Daily High: 1.3042 Daily Low: 1.2941 Trend: Bearish below trend-line support Resistance R1: 1.3000 (psychological mark) R2: 1.3028 (horizontal zone) R3: 1.3042 (current day swing high) Support S1: 1.2941 (3-week low set earlier today) S2: 1.2925 (horizontal zone) S3: 1.2900 (round figure mark) 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 Gold Technical Analysis: Mission Accomplished for bulls as Yellow Metal breakout and reaches $1,200.00 a troy ounce FX Street 4 years "¢ The pair extended overnight rejection slide from the vicinity of 100-day SMA and today's downfall took it further below the 50-day SMA. "¢ The downward trajectory now seems to have stalled near a short-term ascending trend-line support, extending from YTD lows set in mid-August through September monthly lows. "¢ Former UK Foreign Minister Boris Johnson called on his supporters to back PM Theresa May in delivering a correct Brexit and helped ease the bearish pressure surrounding the British Pound. "¢ Meanwhile, technical indicators on the daily chart have started losing… 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.
