25-month old descending trend-line, forming part of a falling wedge, can limit GBP/USD declines amid oversold RSI conditions. 1.2580, 23.6% Fibonacci retracement limit immediate advances. Despite falling to the lowest since early 2017, the GBP/USD’s further declines seem confined as it takes the rounds to 1.2365 while heading into the UK open on Monday. A downward sloping trend-line since June 2017, at 1.2363 now, offers key immediate support for the pair, a break of which can defy the long-term bullish formation and can further please bears with March 2017 low around 1.2110. Also challenging the declines is oversold conditions of 14-day relative strength index (RSI). On the upside, the quote should successfully overcome mid-month tops close to 1.2580 in order to push buyers towards 23.6% Fibonacci retracement of 2015 swing high to 2016 swing low, at 1.2773. GBP/USD weekly chart Trend: Bearish 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 JPY Futures: further consolidation on the cards FX Street 4 years 25-month old descending trend-line, forming part of a falling wedge, can limit GBP/USD declines amid oversold RSI conditions. 1.2580, 23.6% Fibonacci retracement limit immediate advances. Despite falling to the lowest since early 2017, the GBP/USD's further declines seem confined as it takes the rounds to 1.2365 while heading into the UK open on Monday. A downward sloping trend-line since June 2017, at 1.2363 now, offers key immediate support for the pair, a break of which can defy the long-term bullish formation and can further please bears with March 2017 low around 1.2110. Also challenging the declines is oversold conditions of… 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.
