GBP/USD buyers catch a breath after portraying a recovery from 1.2204. 200-HMA, 61.8% Fibonacci retracement add to the support. 1.2300 becomes immediate upside barrier ahead of Wednesday’s top. GBP/USD remains firm around 1.2265 amid the initial Asian session on Thursday. The Cable recently bounced off an ascending trend line from May 17 as well as 200-HMA. As a result, buyers are firming up the grip to aim for 1.2300 round-figures before challenging the previous day’s top near 1.2365. In a case where the bulls remain dominant past-1.2365, May 08 peak around 1.2470 will be the key to watch. On the downside, a confluence of 200-HMA and 50% Fibonacci retracement level of May 17-26 upside, close to 1.2220/15, could restrict the pair’s immediate declines before the said support line around 1.2210. Also acting as strong supports are 61.8% of Fibonacci retracement near 1.2185 and Friday’s lows near 1.2160. GBP/USD hourly chart Trend: Further recovery expected 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 RBA Lowe: Mid March package is working and building a bridge to recovery FX Street 3 years GBP/USD buyers catch a breath after portraying a recovery from 1.2204. 200-HMA, 61.8% Fibonacci retracement add to the support. 1.2300 becomes immediate upside barrier ahead of Wednesday’s top. GBP/USD remains firm around 1.2265 amid the initial Asian session on Thursday. The Cable recently bounced off an ascending trend line from May 17 as well as 200-HMA. As a result, buyers are firming up the grip to aim for 1.2300 round-figures before challenging the previous day’s top near 1.2365. In a case where the bulls remain dominant past-1.2365, May 08 peak around 1.2470 will be the key to watch. On the… 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.
