GBP/USD extends recovery from 50% Fibonacci retracement level. Bullish MACD indicates pair’s another run-up to the short-term key resistance line. GBP/USD holds on to recovery gains from 50% Fibonacci retracement level while taking the bids to 1.2885 during the early Asian session on Friday. The pair’s bounce from 50% Fibonacci retracement of late-October advances gains supports from bullish MACD, which in turn favors pair’s another attempt to clear three-week-old falling trend line, near 1.2930. However, the pair’s successful break of 1.2930 is less likely to stop unless meeting the 1.3000 mark. In a case where sellers ignore a bullish signal from the 12-bar Moving Average Convergence and Divergence (MACD) indicator, 100-bar Simple Moving Average (SMA) near 1.2865 could act as immediate support ahead of 38.2% and 50% Fibonacci retracement levels of 1.2823 and 1.2764 respectively. It should also be noted that pair’s declines below 1.2764 could strength bears to target 61.8% Fibonacci retracement level of 1.2707 and mid-October highs near 1.2650. GBP/USD 4-hour chart Trend: Further recovery looks likely 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 RippleNet member Nium to partner with Visa FX Street 3 years GBP/USD extends recovery from 50% Fibonacci retracement level. Bullish MACD indicates pair's another run-up to the short-term key resistance line. GBP/USD holds on to recovery gains from 50% Fibonacci retracement level while taking the bids to 1.2885 during the early Asian session on Friday. The pair's bounce from 50% Fibonacci retracement of late-October advances gains supports from bullish MACD, which in turn favors pair's another attempt to clear three-week-old falling trend line, near 1.2930. However, the pair's successful break of 1.2930 is less likely to stop unless meeting the 1.3000 mark. In a case where sellers ignore a bullish signal… 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.
