“¢ The pair continued with its good two-way price action within a broader trading range, held over the past few trading sessions, and seems to have formed a rectangle pattern on hourly charts. “¢ A rectangle is usually a continuation pattern that forms as during a pause in the trend – bullish in this case, but can also mark significant tops, which can be inferred from the recent price action. “¢ A convincing break below the 1.3200 handle, leading to a subsequent breakthrough 200-hour SMA will add credence to the bearish outlook and prompt some aggressive selling around the major. “¢ Below the mentioned region, the pair is likely to accelerate the fall towards testing 1.3155 intermediate support before eventually dropping to sub-1.3100 level to test next support near the 1.3070 region. GBP/USD 1-hourly chart 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 EU’s Juncker: Withdrawal has to be completed before May 23 or UK must hold EU Parliament elections FX Street 4 years "¢ The pair continued with its good two-way price action within a broader trading range, held over the past few trading sessions, and seems to have formed a rectangle pattern on hourly charts. "¢ A rectangle is usually a continuation pattern that forms as during a pause in the trend - bullish in this case, but can also mark significant tops, which can be inferred from the recent price action. "¢ A convincing break below the 1.3200 handle, leading to a subsequent breakthrough 200-hour SMA will add credence to the bearish outlook and prompt… 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.
