GBP/USD stays positive near the highest levels in three weeks. A clear break above 61.8% Fibonacci retracement favors further upside. Optimists can eye June month high above the key EMA, Friday’s bottom could regain market attention under 1.2515. GBP/USD takes the bids near 1.2565 amid the initial hours of Tokyo trading on Wednesday. The pair crossed 61.8% Fibonacci retracement of March month moves the previous day. However, 200-day EMA stopped bulls around a multi-day top. Considering the Cable’s ability to stay beyond the key Fibonacci retracement, buyers are again attacking the 200-day EMA level of 1.2590. Though, the pair’s additional rise needs to gain validation by crossing the 1.2600 threshold. In doing so, the buyers may aim for June 16 high of 1.2688 as an intermediate stop before targeting June monthly peak surrounding 1.2815. Meanwhile, sellers may take entries on the downside break below 61.8% Fibonacci retracement level of 1.2515, which in turn could highlight Friday’s low of 1.2438. Should the bears refresh the monthly low under 1.2438, 1.2400 and the June month bottom close to 1.2250 will flash on their radars. GBP/USD daily chart Trend: Bullish 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 Ripple Technical Analysis: XRP/USD bears take price below $0.185 FX Street 3 years GBP/USD stays positive near the highest levels in three weeks. A clear break above 61.8% Fibonacci retracement favors further upside. Optimists can eye June month high above the key EMA, Friday’s bottom could regain market attention under 1.2515. GBP/USD takes the bids near 1.2565 amid the initial hours of Tokyo trading on Wednesday. The pair crossed 61.8% Fibonacci retracement of March month moves the previous day. However, 200-day EMA stopped bulls around a multi-day top. Considering the Cable’s ability to stay beyond the key Fibonacci retracement, buyers are again attacking the 200-day EMA level of 1.2590. Though, the pair’s additional… 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.
