GBP/USD extends recovery moves from 50% Fibonacci retracement. 200-day EMA becomes the key resistance, 21-day EMA restricts immediate downside. Bulls likely to cheer an upside break of important EMA amid normal RSI conditions. GBP/USD takes the bids near 1.2516, up 0.19% on a day, during the initial hour of Tokyo open on Tuesday. The Cable recently surged after a successful break beyond 100-day EMA. In doing so, the quote stretches its pullback moves from 50% Fibonacci retracement level of May-June upside. Given the absence of abnormal RSI, backed by the pair’s trading beyond the key supports, buyers are likely to aim for a 200-day EMA level of 1.2591 during the further rise. Though, 1.2550 can act as a buffer during the surge. If the upside momentum stays intact beyond 1.2600 round-figure, the mid-June top near 1.2690 and 1.2700 threshold could entertain the bulls ahead of pushing them towards the previous month’s top surrounding 1.2810/15. Alternatively, sellers will look for entries below a 21-day EMA level of 1.2463 to attack 50% Fibonacci retracement close to 1.2440. In a case where the pair remains depressed below 1.2440, 61.8% Fibonacci retracement level of 1.2362 and June month bottom of 1.2251 can become the bears’ favorites. 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 AUD/JPY peeps above 75.00 ahead of RBA FX Street 3 years GBP/USD extends recovery moves from 50% Fibonacci retracement. 200-day EMA becomes the key resistance, 21-day EMA restricts immediate downside. Bulls likely to cheer an upside break of important EMA amid normal RSI conditions. GBP/USD takes the bids near 1.2516, up 0.19% on a day, during the initial hour of Tokyo open on Tuesday. The Cable recently surged after a successful break beyond 100-day EMA. In doing so, the quote stretches its pullback moves from 50% Fibonacci retracement level of May-June upside. Given the absence of abnormal RSI, backed by the pair’s trading beyond the key supports, buyers are likely to… 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.
