The GBP/USD will need to scramble if buyers are going to pick the pair up from the week’s bottoms thanks to a swift decline yesterday, and recovery bounces quickly coming under short-side pressure from USD bidders. The Sterling is testing back into recent swing lows as mid-August’s bullish recovery looks set to wane with plenty of room below the 200-day SMA, and the GBP/USD is nearing the 50% retracement area of 2018’s technical bottom. The Pound is -4.26% off of 2018’s opening prices, and has shed nearly -10.0% off of its chart from March’s peak at 1.4376, and the year’s fourth quarter looks set to face similar declines, with the pair slipping -0.82% as the Sterling rounds the corner into a second week of straight losses, with the pace of declines giving hints of possibly accelerating, assuming the US Dollar index continues its current course. GBP/USD Chart, 5-Minute Spot rate 1.2936 Week change -0.78% Previous week high 1.3217 Previous week low 1.3000 Support 1 1.2922 (current day low) Support 2 1.2900 (major technical barrier) Support 3 1.2828 (August 27th swing low) Resistance 1 1.2953 (Late Wednesday consolidation) Resistance 2 1.2964 (Previous day swing low) Resistance 3 1.2978 (Intraday consolidation 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 EU’s Tajani: Italy’s growth goal of 1.6 percent is “propaganda” FX Street 4 years The GBP/USD will need to scramble if buyers are going to pick the pair up from the week's bottoms thanks to a swift decline yesterday, and recovery bounces quickly coming under short-side pressure from USD bidders. The Sterling is testing back into recent swing lows as mid-August's bullish recovery looks set to wane with plenty of room below the 200-day SMA, and the GBP/USD is nearing the 50% retracement area of 2018's technical bottom. The Pound is -4.26% off of 2018's opening prices, and has shed nearly -10.0% off of its chart from March's peak at 1.4376, and the year's… 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.
