GBP/USD portrays nearly one-week-old rising-wedge bearish formation on the hourly chart. 50-hour EMA adds strength to the support. With the pullback from multi-month high easing worries of the Cable sellers, GBP/USD highlights a bearish chart pattern, rising-wedge, at the top as it declines to 1.2800 while heading into the London open on Thursday. The bearish formation on the hourly (H1) chart gets confirmed if prices slip below 1.2755/50 support-zone, comprising formation’s lower line and 50-hour Exponential Moving Average (EMA). In doing so, the fresh downturn towards 61.8% Fibonacci retracement near 1.2450 could be initiated theoretically. However, intermediate halts to 1.2615 and weekly low surrounding 1.2515 can’t be denied. Should bears refrain from respecting 1.2450, 1.2330 and 1.2200 will be on their radars. Alternatively, pair’s run-up beyond 1.2850 should recall 1.2915 and 1.3000 mark back to the chart. GBP/USD hourly chart Trend: pullback expected 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 UK: Retail Sales and Brexit negotiations in focus – TDS FX Street 4 years GBP/USD portrays nearly one-week-old rising-wedge bearish formation on the hourly chart. 50-hour EMA adds strength to the support. With the pullback from multi-month high easing worries of the Cable sellers, GBP/USD highlights a bearish chart pattern, rising-wedge, at the top as it declines to 1.2800 while heading into the London open on Thursday. The bearish formation on the hourly (H1) chart gets confirmed if prices slip below 1.2755/50 support-zone, comprising formation's lower line and 50-hour Exponential Moving Average (EMA). In doing so, the fresh downturn towards 61.8% Fibonacci retracement near 1.2450 could be initiated theoretically. However, intermediate halts to 1.2615… 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.
