- June 4, 2019
- Posted by: Trading
- Category: News
- GBP/USD has been under strong selling pressure in the last weeks.
- GBP/USD is recovering some of its losses but more work needs to be done for bulls.
GBP/USD daily chart
GBP/USD is up for the third consecutive day as the market is trading below its main simple moving averages (SMAs).
Cable is challenging the 1.2700 figure as the market is trading above the 50 SMA.
GBP/USD 30-minute chart
GBP/USD bulls need to keep the market above 1.2700 key resistance. A sustained break above the level can lead to 1.2750. Support is seen at 1.2670 and 1.2640.
Additional key levels