GBP/USD is en-route for a test of Friday’s point of control located at 1.2874. Bears look for a correction back to Wednesday’s point of control at 1.2811. A 61.8% Fibonacci retracement target of Wednesday’s rally could set up a buying opportunity. GBP/USD is trading within a monthly area of supports and resistances having rallied from the late 1.27 handle to a recent high of 1.2871, en-route for a test of Friday’s point of control located at 1.2874. This is an area of resistance on the daily chart outlook, with price submerged below the bearish 21-DMA. Failures to close through here, with buying/accumulation volume slowing, will bring the case for a correction back to Wednesday’s point of control at 1.2811 which ties up with a 61.8% Fibonacci retracement target of Wednesday’s rally between 1.2770 and 1.2817. Monthly areas of interest Daily chart, price below 21-DMA and key resistance 4-HR chart, 61.8% target on the radar, volume peaked out 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 Wall Street close: Benchmarks closed in the green, DJIA markes second 1000 point gain in its history FX Street 2 years GBP/USD is en-route for a test of Friday's point of control located at 1.2874. Bears look for a correction back to Wednesday's point of control at 1.2811. A 61.8% Fibonacci retracement target of Wednesday's rally could set up a buying opportunity. GBP/USD is trading within a monthly area of supports and resistances having rallied from the late 1.27 handle to a recent high of 1.2871, en-route for a test of Friday's point of control located at 1.2874. This is an area of resistance on the daily chart outlook, with price submerged below the bearish 21-DMA. Failures to close through here, with… 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.
