GBP/USD is trading lower – May 09

GBP/USD is exchanging lower, and Momentum on the four-hour graph is negative, demonstrating it has more space to fall. The money pair likewise lost the 200 Simple Moving Average in the wake of falling underneath the 50 and 100 SMAs. All things considered, the viewpoint is negative.

Beneath the fight line of 1.2990 which was a swing low a week ago, link has support at 1.2960 which was the depressed spot in March. It is trailed by 1.2920 which topped GBP/USD in late April and 1.2870, the depressed spot in April.

Some opposition anticipates at 1.3030 which isolated scopes recently. Further above, 1.3080 was a high point not long ago, and 1.3125 was a swing high a week ago.

John Wat

About: John Wat

Forex analyst with 10 years experience in Forex market.Trading Expert ABC Breakouts, Trendlines breakouts, Supply & Demand, Customized Elliot Wave.