GBP/USD Price Analysis: Risks skewed to the downside, key indicators suggest NEWS | 14 minutes ago | By Omkar Godbole

  • GBP/USD’s daily MACD turns bearish for the first in over a month. 
  • The pair risks falling to key support below 1.29.

The path of least resistance for GBP/USD is to the downside. 

The daily chart MACD histogram has crossed below zero for the first time Sept 30, indicating a bullish-to-bearish trend change. 

The 5- and 10-day simple moving averages (SMAs) are trending south, indicating a bearish setup. 

Further, the 14-day relative strength index is seen below 50, also a price-negative reading. 

As such, GBP/USD risks falling to the 100-day simple moving average located at 1.2876. At press time, the pair is trading at 1.2930, representing a 0.12% gain on the day, having breached a trendline rising from Sept.25 and Oct. 16 lows last week. 

Source from https://www.fxstreet.com/news/gbp-usd-price-analysis-risks-skewed-to-the-downside-key-indicators-suggest-202011020220

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