GBP/USD pulls back after failing to clear eight-week-old horizontal resistance. 100-day EMA will reward the breakout, 23.6% Fibonacci retracement and 21-day EMA seem nearby supports. Having taken U-turn from a multi-week-old horizontal-area including July month extremes, GBP/USD trades near 1.2345 while heading into the UK open on Tuesday. With this, 23.6% Fibonacci retracement of May-September declines, at 1.2250 and 21-day exponential moving average (EMA) near 1.2235, could grab sellers’ attention. If bears dominate below 1.2235, early-August high near 1.2210 and 1.2100 could offer intermediate halts to the downward trajectory targeting 1.2000 round-figure. Alternatively, an upside clearance of 1.2385 opens the door for a further rise to 100-day EMA level of 1.2478 and then to 50% Fibonacci retracement level around 1.2570. 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 IMF Chief Economist: US, China must work together “cooperatively, productively” on trade FX Street 4 years GBP/USD pulls back after failing to clear eight-week-old horizontal resistance. 100-day EMA will reward the breakout, 23.6% Fibonacci retracement and 21-day EMA seem nearby supports. Having taken U-turn from a multi-week-old horizontal-area including July month extremes, GBP/USD trades near 1.2345 while heading into the UK open on Tuesday. With this, 23.6% Fibonacci retracement of May-September declines, at 1.2250 and 21-day exponential moving average (EMA) near 1.2235, could grab sellers' attention. If bears dominate below 1.2235, early-August high near 1.2210 and 1.2100 could offer intermediate halts to the downward trajectory targeting 1.2000 round-figure. Alternatively, an upside clearance of 1.2385 opens 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.
