GBP/USD: Mixed technical picture leaves little room for gains
|GBP/USD is flat trading at 1.2272 with Thursday's four-hour chart painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports.
Key quotes
“GBP/USD has dropped below the 100 Simple Moving Average on the four-hour chart and also trades below the 200 SMA. However, it is holding above the 50 SMA and enjoys upside momentum.”
“Resistance awaits at 1.2275, the daily high, followed by 1.2335, a stepping stone on the way down in mid-May.”
“Support awaits at 1.2205, Thursday's swing low, followed by 1.2160, the weekly trough.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.