GBP/USD: Pointing to the downside
|The picture has improved but bears remain in the lead as GBP/USD Thursday's four-hour chart continues pointing to the downside, FXStreet’s analyst Yohay Elam informs.
Key quotes
“GBP/USD is suffering from downside momentum on the four-hour chart but has recaptured the 200 Simple Moving Average.”
“Support awaits at 1.23, a low point in recent days. It is followed by 1.2250, which is the weekly low.”
“Resistance is at 1.2280, the high point on Wednesday, and then by 1.2445, which provided support in mid-April.”
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.