- GBP/USD remains depressed around one-week low after breaking short-term key support.
- Steady RSI, impending bear cross on MACD also keep sellers hopeful.
- Buyers need validation from two-month-old resistance line, 1.2000 can test intraday sellers.
GBP/USD dribbles around mid-1.2000s as the Cable traders lick their wounds during Tuesday’s Asian session, after the biggest daily fall in a week. Even so, the quote remains on the bear’s radar as it stays beneath the 1.2110-2100 support-turned-resistance.
A clear downside break of the convergence of the 21-DMA and an upward sloping trend line from mid-July keep GBP/USD sellers hopeful. Also suggesting the pair’s further downside is the descending RSI (14), not oversold, as well as a looming bear cross on the MACD.
That said, the pair is likely declining towards the horizontal area comprising multiple levels marked since June, around 1.1930. However, the 1.2000 psychological magnet may offer an intermediate halt during the anticipated fall.
In a case where the GBP/USD prices drop below 1.1930, the odds of witnessing a slump towards the yearly low of 1.1760 seem acceptable.
Alternatively, a corrective pullback need not only to cross the 1.2100-2110 immediate hurdle but a two-month-old descending trend line resistance, close to 1.2265 by the press time, to convince GBP/USD buyers.
Even so, the 100-DMA level surrounding 1.2415 could challenge the quote’s further advances.
GBP/USD: Daily chart
Trend: Further weakness expected
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
Tire Inflator Portable Air Compressor - 150PSI & 10000mAh Cordless Air Pump with Digital Tire Pressure Gauge, Accurate Dual LCD Display & LED Light, for Car/Motorcycle/E-Bike/Ball
$24.99 (as of March 12, 2025 19:46 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
MONOZEL Car Vacuum Portable Cordless, 18000Pa 2 in 1 Vacuum Cleaner&Air Duster, 130W Brushless Motor Handheld Vacuum Cordless with 7800mAh Battery, LED Light, Multi-Nozzles for Car, Home, Office, Pet
$39.99 (as of March 12, 2025 19:46 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple Barrel Acrylic Paint in Assorted Colors (2 Ounce), 20504 Black
$0.58 (as of March 12, 2025 20:22 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Basics Digital Kitchen Scale with LCD Display, Batteries Included, Weighs up to 11 pounds, Black and Stainless Steel
$10.99 (as of March 12, 2025 20:22 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
