GBP/USD is trying hard to extend the recovery as Friday’s 4-hour chart is showing an improving picture for the bulls. Yohay Elam, an analyst at FXStreet, notes that the cable needs to surpass the psychological 1.30 level to continue the rise on a strong foot. Key quotes “Momentum on the 4-hour chart is positive, and the currency pair topped the 50 Simple Moving Average, both bullish developments. However, GBP/USD is still trading below 1.30 – which is not only a psychologically significant level but also a stubborn separator of ranges.” “Above 1.30, the next line to watch is 1.3045, which capped cable last week, followed by 1.3150, a support line in both August and September.” “Support awaits at 1.2920, which capped cable early in the week, and then 1.2855, Thursday’s low. Further down, 1.2765 is September’s low.” 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 Kenny Fisher 2 years GBP/USD is trying hard to extend the recovery as Friday's 4-hour chart is showing an improving picture for the bulls. Yohay Elam, an analyst at FXStreet, notes that the cable needs to surpass the psychological 1.30 level to continue the rise on a strong foot. Key quotes “Momentum on the 4-hour chart is positive, and the currency pair topped the 50 Simple Moving Average, both bullish developments. However, GBP/USD is still trading below 1.30 – which is not only a psychologically significant level but also a stubborn separator of ranges.” “Above 1.30, the next line to watch is 1.3045, which… 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.
