“¢ The pair remained under some selling pressure for the fourth consecutive session on Thursday and added to this week’s considerable losses. “¢ The pair fell below the key 1.30 psychological mark, or 1-1/2 week lows, and erased a major part of last week’s strong up-move to one-month tops. The downward momentum, which started from a resistance marked by 61.8% Fibonacci retracement level of the 1.3381-1.2866, remained uninterrupted after Labour party leader – Jeremy Corbyn poured cold water over the UK cross-party Brexit talks. The pair now seems to have found acceptance below the 1.30 handle, coinciding with 23.6% Fibonacci retracement level, and hence, a follow-through weakness, towards testing the very important 200-day SMA, now looks a distinct possibility. Technical indicators on hourly/daily charts maintained their bearish bias and are still far from being in the oversold territory, reinforcing the bearish outlook for a possible slide towards retesting a descending trend-line resistance break-point now turned support. GBP/USD daily chart 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/JPY renews multi-month lows at 109.60 as risk aversion continues to dominate FX Street 3 years "¢ The pair remained under some selling pressure for the fourth consecutive session on Thursday and added to this week's considerable losses. "¢ The pair fell below the key 1.30 psychological mark, or 1-1/2 week lows, and erased a major part of last week's strong up-move to one-month tops. The downward momentum, which started from a resistance marked by 61.8% Fibonacci retracement level of the 1.3381-1.2866, remained uninterrupted after Labour party leader - Jeremy Corbyn poured cold water over the UK cross-party Brexit talks. The pair now seems to have found acceptance below the 1.30 handle,… 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.
