GBP/USD follows a bullish flag pattern on the one hour (H1) chart. 100-HMA offers additional support to the downside. Observing the GBP/USD pair’s gradual declines since Thursday, a short-term, bullish flag can be witnessed on the hourly chart as the pair trades near 1.2270 heading into the UK open on Monday. The bullish formation gets confirmed on the upside break of 1.2320, which in turn could theoretically trigger the pair’s run-up beyond 1.2600 mark. However, recent high close to 1.2355 and mid-July top close to 1.2560 could act as a buffer during the surge. Meanwhile, pair’s downside break of 1.2260 may take rest around 100-hour moving average (HMA) level of 1.2214. In a case prices decline below 1.2214, 61.8% Fibonacci retracement of the current month upside, at 1.2110 could please bear’s afterward. GBP/USD hourly chart Trend: bullish 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 Oman: Change in Saudi Oil Minister won’t change OPEC+ policy FX Street 4 years GBP/USD follows a bullish flag pattern on the one hour (H1) chart. 100-HMA offers additional support to the downside. Observing the GBP/USD pair's gradual declines since Thursday, a short-term, bullish flag can be witnessed on the hourly chart as the pair trades near 1.2270 heading into the UK open on Monday. The bullish formation gets confirmed on the upside break of 1.2320, which in turn could theoretically trigger the pair's run-up beyond 1.2600 mark. However, recent high close to 1.2355 and mid-July top close to 1.2560 could act as a buffer during the surge. Meanwhile, pair's downside break of 1.2260… 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.
