TipTVFinance

GBP/USD – Eyeing trend line support

FX:GBPUSD   British Pound / U.S. Dollar
GBP/USD             pair has dropped to a fresh 30-year low of 1.3055 levels. It seems the markets are pricing-in a Bank of England (BOE) rate cut in August.

As of now, there is very little on chart that suggests a possibility of a sharp recovery except the daily RSI which is oversold once again.

The pair could find support around 1.30054 which is a trend line support (join Jan 21 low and Feb 29 low and extend the trend line ).

Bulls should hope for a positive daily closing from here today or later this week as such a move would create a bullish price RSI divergence and open doors for a technical recovery.

A daily closing below 1.30 would only add to the bearish pressure around Pound.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out