GBP/USD steps back from the key resistance-confluence. 50% Fibonacci retracement can entertain short-term sellers while 100-day SMA could question bears afterward. Failure to cross the key resistance confluence presently drags the GBP/USD pair downwards to 1.2600 while heading into the London open on Monday. The pair now aims for 50% Fibonacci retracement of May-September declines, at 1.2568, during further declines. However, 100-day Simple Moving Average (SMA), near 1.2410 now, can limit the pair’s additional south-run. Also supporting the sellers is overbought conditions of 14-bar Relative Strength Index (RSI). Should bears refrain from respecting 1.2410 rest-point, early-month low nearing 1.2195 will flash on their radar. Alternatively, 61.8% Fibonacci retracement, 200-day SMA and a falling trend-line since May 21 limit the pair’s upside around 1.2705/15, a break of which could escalate the run-up to June month high surrounding 1.2785. During the pair’s extended rise past-1.2785, 1.2815 and 1.2865 will becomes bulls’ favorites. GBP/USD daily chart Trend: pullback 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 Ireland’s Coveney: Brexit deal is possible but tough issues remain FX Street 4 years GBP/USD steps back from the key resistance-confluence. 50% Fibonacci retracement can entertain short-term sellers while 100-day SMA could question bears afterward. Failure to cross the key resistance confluence presently drags the GBP/USD pair downwards to 1.2600 while heading into the London open on Monday. The pair now aims for 50% Fibonacci retracement of May-September declines, at 1.2568, during further declines. However, 100-day Simple Moving Average (SMA), near 1.2410 now, can limit the pair's additional south-run. Also supporting the sellers is overbought conditions of 14-bar Relative Strength Index (RSI). Should bears refrain from respecting 1.2410 rest-point, early-month low nearing 1.2195 will… 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.
