Yohay Elam, an analyst at FXStreet, examines the GBP/USD late May’s daily chart which is painting a mixed picture. Key quotes “GBP/USD is trading in an upwards channel of sorts and has also topped the 50-day Simple Moving Average. However, momentum remains to the downside and the currency pair remains below the 100 and 200 SMAs.” “Resistance awaits at 1.24, a round number, and also a support line several times in April. Next up, 1.2470 was a swing high in early May.” “Further down, 1.2285 capped cable in mid-May. The next level is 1.2250, which was a trough in mid-April. It is followed by 1.2210, a low point in late May, followed by 1.2160, also a low point from the same time.” 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 EUR/USD: Outside overbought territory bulls will keep at the helm FX Street 3 years Yohay Elam, an analyst at FXStreet, examines the GBP/USD late May's daily chart which is painting a mixed picture. Key quotes “GBP/USD is trading in an upwards channel of sorts and has also topped the 50-day Simple Moving Average. However, momentum remains to the downside and the currency pair remains below the 100 and 200 SMAs.” “Resistance awaits at 1.24, a round number, and also a support line several times in April. Next up, 1.2470 was a swing high in early May.” “Further down, 1.2285 capped cable in mid-May. The next level is 1.2250, which was a trough in mid-April.… 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.
