GBP/USD seesaws around 38.2% Fibonacci retracement of June-September decline. 50-day EMA, a rising trend-line since July 31 limit pair’s nearby advances. Early August high, 21-DMA become adjacent supports to watch. Despite pulling back from more than a month old rising trend-line, also falling below 50-day EMA, GBP/USD takes the rounds to 38.2% Fibonacci retracement as it trades near 1.2285 during early Monday. With the 12-bar moving average convergence and divergence (MACD) indicating bullish signals, the pair can again confront 50-day exponential moving average (EMA) level of 1.2310 ahead of challenging a rising trend-line since July 31, at 1.2340 now. If at all prices manage to clear 1.2340 on a daily closing basis, 50% Fibonacci retracement level of 1.2372 could act as an intermediate halt before fueling prices to 1.2470/80 area including 61.8% Fibonacci retracement and 100-day EMA. Alternatively, 21-day EMA level of 1.2217, near to August 06 high of 1.2210, acts as adjacent support-zone for the pair traders to watch during the pullback below 38.2% Fibonacci retracement. Should there be additional downside past-1.2210, September 03 high near 1.2100 will gain bears’ attention. 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 UK’s PM Johnson: Government might have to accept a further 3-month delay to Brexit – The UK Times FX Street 4 years GBP/USD seesaws around 38.2% Fibonacci retracement of June-September decline. 50-day EMA, a rising trend-line since July 31 limit pair's nearby advances. Early August high, 21-DMA become adjacent supports to watch. Despite pulling back from more than a month old rising trend-line, also falling below 50-day EMA, GBP/USD takes the rounds to 38.2% Fibonacci retracement as it trades near 1.2285 during early Monday. With the 12-bar moving average convergence and divergence (MACD) indicating bullish signals, the pair can again confront 50-day exponential moving average (EMA) level of 1.2310 ahead of challenging a rising trend-line since July 31, at 1.2340 now. If… 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.
