“¢ The pair now seems to be forming a bearish Head & Shoulders chart pattern on the 4-hourly chart, with the neckline support near 1.3090 area. “¢ The release of UK manufacturing PMI print does little to provide any meaningful impetus and neutral technical indicators have also failed to reinforce the bearish set-up. “¢ Hence, it would be prudent to wait for a convincing break below the mentioned support before positioning for any further near-term depreciating move. GBP/USD 4-hourly chart Spot rate: 1.3117 Daily Low: 1.3095 Daily High: 1.3127 Trend: Bearish below neckline support Resistance R1: 1.3126 (100-period SMA H1) R2: 1.3173 (overnight swing high) R3: 1.3200 (round figure mark) Support S1: 1.3090 (neckline support) S2: 1.3045 (S2 daily pivot-point) S3: 1.3013 (horizontal zone) 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 Russian ForeignMin: Russia’s Lavrov may meet US’ Pompeo this week FX Street 5 years "¢ The pair now seems to be forming a bearish Head & Shoulders chart pattern on the 4-hourly chart, with the neckline support near 1.3090 area. "¢ The release of UK manufacturing PMI print does little to provide any meaningful impetus and neutral technical indicators have also failed to reinforce the bearish set-up. "¢ Hence, it would be prudent to wait for a convincing break below the mentioned support before positioning for any further near-term depreciating move. GBP/USD 4-hourly chart Spot rate: 1.3117 Daily Low: 1.3095 Daily High: 1.3127 Trend: Bearish… 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.
