The pair continued with its struggle to find acceptance above 50% Fibo. level. Technical set-up warrants some caution before placing any aggressive bets. The GBP/USD pair continued with its struggle to make it through the very important 200-day SMA and trimmed a part of the early positive move, back closer to over three-month tops set on Friday. The overnight bounce from a previous resistance breakpoint turned support near 38.2% Fibonacci level of the 1.3381-1.1959 downfall and a subsequent move up support prospects for additional gains. However, the pair’s inability to sustain above 50% Fibonacci level of the 1.3381-1.1959 downfall and repeated rejection near the mentioned barrier might be seen as initial signs of bullish exhaustion. Meanwhile, technical indicators on the daily chart maintained their bullish bias but are flashing slightly overbought conditions on the 4-hourly chart, further warranting some caution for bullish traders. Hence, it will be prudent to wait for a sustained move beyond the 1.2700 handle before traders start positioning for any further near-term appreciating move towards reclaiming the 1.2800 round-figure mark. On the flip side, sustained weakness back below the 1.2600 mark might prompt some technical selling and drag the pair back towards challenging the overnight swing lows, around the 1.2515-10 region. GBP/USD Daily chart 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 Bitcoin technical analysis: BTC/USD vulnerabilities continue to point south FX Street 4 years The pair continued with its struggle to find acceptance above 50% Fibo. level. Technical set-up warrants some caution before placing any aggressive bets. The GBP/USD pair continued with its struggle to make it through the very important 200-day SMA and trimmed a part of the early positive move, back closer to over three-month tops set on Friday. The overnight bounce from a previous resistance breakpoint turned support near 38.2% Fibonacci level of the 1.3381-1.1959 downfall and a subsequent move up support prospects for additional gains. However, the pair's inability to sustain above 50% Fibonacci level of the 1.3381-1.1959… 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.