The Sterling might be losing steam as 1.2360 is a tough nut to crack. Support is seen at 1.2315 and 1.2270 price levels, according to the Technical Confluences Indicator. GBP/USD daily chart The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, GBP/USD is attempting to create a double bottom with the August lows as the market is parked below the 1.2400 figure. GBP/USD four-hour chart GBP/USD is trying to break above 1.2360 resistance. Bulls have been trying their luck repeatedly over the last three days. A break beyond this level can expose the 1.2411 and 1.2450 resistances, according to the Technical Confluences Indicator. GBP/USD 30-minute chart The Pound is trading above the main SMAs, suggesting bullish momentum in the near term. Bears need to reclaim the 1.2315 support to create a pullback down towards 1.2270 and 1.2244 support, according to the Technical Confluences Indicator. Additional key levels 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 USD/MXN remains weak, testing key support at 19.45/50 FX Street 4 years The Sterling might be losing steam as 1.2360 is a tough nut to crack. Support is seen at 1.2315 and 1.2270 price levels, according to the Technical Confluences Indicator. GBP/USD daily chart The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, GBP/USD is attempting to create a double bottom with the August lows as the market is parked below the 1.2400 figure. GBP/USD four-hour chart GBP/USD is trying to break above 1.2360 resistance. Bulls have been trying their luck repeatedly over the last three days. A break… 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.
