The cable near-term set-up remains tilted in favour of bullish traders and support prospects for additional gains, FXStreet’s analyst Haresh Menghani reports. Key quotes “GBP/USD on Tuesday confirmed a near-term bullish break through an important confluence resistance comprising of 50-day EMA and 61.8% Fibonacci level of the 1.3200-1.1410 slump.” “Bulls are likely to wait for some follow-through strength beyond 100-hour EMA, around mid-1.2600s, before positioning for any further near-term appreciating move.” “On the flip side, any meaningful corrective slide might now attract some dip-buying and seems more likely to remain limited near the confluence resistance break-point, around the 1.2520-15 region.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Critical resistance awaits at 1.10 FX Street 2 years The cable near-term set-up remains tilted in favour of bullish traders and support prospects for additional gains, FXStreet’s analyst Haresh Menghani reports. Key quotes “GBP/USD on Tuesday confirmed a near-term bullish break through an important confluence resistance comprising of 50-day EMA and 61.8% Fibonacci level of the 1.3200-1.1410 slump.” “Bulls are likely to wait for some follow-through strength beyond 100-hour EMA, around mid-1.2600s, before positioning for any further near-term appreciating move.” “On the flip side, any meaningful corrective slide might now attract some dip-buying and seems more likely to remain limited near the confluence resistance break-point, around the 1.2520-15 region.” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
