GBP/USD is on the bids following short-term rising channel formation. The two-day long descending trend-line limits immediate upside. 200-hour EMA adds strength to the channel’s support. Although a two-day-old falling trend-line is likely limiting the GBP/USD pair’s immediate upside, the pair continues to follow a short-term rising channel formation, which in turn portrays its strength. The quote seesaws around the intra-day high of 1.2368 while heading into the UK open on Wednesday. An upside break beyond immediate resistance-line, at 1.2375, could propel prices to latest high surrounding 1.2385 and then to channel’s upper-line near 1.2410. On the downside, 200-hour exponential moving average (EMA) level and the channel’s lower-line guards the pair’s declines around 1.2265/60, a break of which can quickly drag the quote to 1.2210 support. During the pair’s further south-run below 1.2210, one-week-low around 1.2165 and 1.2100 will become sellers’ favorites. GBP/USD hourly chart Trend: bullish 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 GBP/USD technical analysis: On the front-foot inside 4-day old rising channel FX Street 4 years GBP/USD is on the bids following short-term rising channel formation. The two-day long descending trend-line limits immediate upside. 200-hour EMA adds strength to the channel's support. Although a two-day-old falling trend-line is likely limiting the GBP/USD pair's immediate upside, the pair continues to follow a short-term rising channel formation, which in turn portrays its strength. The quote seesaws around the intra-day high of 1.2368 while heading into the UK open on Wednesday. An upside break beyond immediate resistance-line, at 1.2375, could propel prices to latest high surrounding 1.2385 and then to channel's upper-line near 1.2410. On the downside, 200-hour exponential… 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.
