GBP/USD stays above 200-bar SMA after bouncing off the same on Friday. The monthly resistance line holds the key to October month top. Following its successful recovery from 200-bar SMA, GBP/USD seesaws around 1.2900 by the press time of Tuesday’s Asian session. The quote now aims to confront a downward sloping trend line since October 21, at 1.2980, a break of which will accelerate the pair’s run-up towards the previous month top near 1.3015 and then to 1.3100 round-figure. Meanwhile, sellers wait for the pair’s declines below 200-bar Simple Moving Average (SMA) level of 1.2855 to target the monthly low near 1.2770. Given the quote’s extended south-run past-1.2770, October 11 high near 1.2710 and 61.8% Fibonacci retracement of the previous month rise, close to 1.2510, will be on the bears’ radar. GBP/USD 4-hour 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 China CommerceMin: China’s Liu, USTR Lighthizer and US Treasry Sec. Mnuhcin held a trade call FX Street 3 years GBP/USD stays above 200-bar SMA after bouncing off the same on Friday. The monthly resistance line holds the key to October month top. Following its successful recovery from 200-bar SMA, GBP/USD seesaws around 1.2900 by the press time of Tuesday's Asian session. The quote now aims to confront a downward sloping trend line since October 21, at 1.2980, a break of which will accelerate the pair's run-up towards the previous month top near 1.3015 and then to 1.3100 round-figure. Meanwhile, sellers wait for the pair's declines below 200-bar Simple Moving Average (SMA) level of 1.2855 to target the monthly low… 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.
