GBP/USD rises to 2-day high while struggling around 23.6% Fibonacci retracement of July-August declines. 4H 100MA and one-wee-old falling trend-line limit pair’s immediate upside while 1.2000 acts as the key downside support. Following its gradual recovery since late-Tuesday, GBP/USD inches up to 23.6% Fibonacci retracement while taking the bids to 1.2105 heading into the UK open on Wednesday. The Cable now aims to confront 1.2150/55 resistance-confluence including 100-bar simple moving average on the four-hour chart (4H 100MA) and a falling trend-line since August 27. Should the pair manage to clear the key upside barrier, it can rise to late-August tops near 1.2310. On the contrary, failure to sustain the latest recovery can drag the pair back to 1.2000 round-figure that has witnessed fewer breaks since 1985. GBP/USD 4-hour 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 BOJ’s Kataoka: ‘Personally, feel need for additional monetary easing has increased’ FX Street 4 years GBP/USD rises to 2-day high while struggling around 23.6% Fibonacci retracement of July-August declines. 4H 100MA and one-wee-old falling trend-line limit pair's immediate upside while 1.2000 acts as the key downside support. Following its gradual recovery since late-Tuesday, GBP/USD inches up to 23.6% Fibonacci retracement while taking the bids to 1.2105 heading into the UK open on Wednesday. The Cable now aims to confront 1.2150/55 resistance-confluence including 100-bar simple moving average on the four-hour chart (4H 100MA) and a falling trend-line since August 27. Should the pair manage to clear the key upside barrier, it can rise to late-August tops… 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.
