GBP/USD takes the bids near a multi-month high flashed on Monday. Overbought RSI, Doji on the daily chart question bulls. 61.8% Fibonacci retracement and 200-day SMA gain sellers’ attention. GBP/USD buyers have reasons to worry as the pair trades near 1.2985 prior to the London open on Tuesday. Among them, a Doji candle on the daily chart, a bearish technical formation, and overbought conditions of 14-bar Relative Strength Index (RSI) take the first seats. With this, bears will look for confirmations during the pair’s declines below 61.8% Fibonacci retracement of March-September downpour, at 1.2839, which in turn could drag them towards 200-day Simple Moving Average (SMA) level of 1.2716. It should also be noted that a 50% Fibonacci retracement level of 1.2670 and September month high close to 1.2582 will please bears afterward. Alternatively, pair’s extended rise above 1.3013 could push bulls to aim for May month ghi around 1.3180. 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 EUR/USD: Steady trading – Commerzbank FX Street 3 years GBP/USD takes the bids near a multi-month high flashed on Monday. Overbought RSI, Doji on the daily chart question bulls. 61.8% Fibonacci retracement and 200-day SMA gain sellers' attention. GBP/USD buyers have reasons to worry as the pair trades near 1.2985 prior to the London open on Tuesday. Among them, a Doji candle on the daily chart, a bearish technical formation, and overbought conditions of 14-bar Relative Strength Index (RSI) take the first seats. With this, bears will look for confirmations during the pair's declines below 61.8% Fibonacci retracement of March-September downpour, at 1.2839, which in turn could drag them… 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.
