GBP/USD bounces off 23.6% Fibonacci retracement, aims for monthly high. Overbought RSI conditions can recall 100-bar SMA on the chart. The GBP/USD pair’s U-turn from 23.6% Fibonacci retracement flashes 1.2630 as a quote while heading into the London open on Tuesday. The pair now aims for monthly tops nearing 1.2710 whereas June month high nearing 1.2785 and April lows close to 1.2920 will gain bulls’ attention afterward. However, overbought conditions of 14-bar Relative Strength Index (RSI) seem to favor pair’s another pullback towards 23.6% Fibonacci retracement level of 1.2530 prior to highlighting 38.2% Fibonacci retracement figure of 1.2420 for bears. During the pair’s extended downpour below 1.2420, 100-bar Simple Moving Average (SMA) at 1.2365 and 61.8% Fibonacci retracement level of 1.2245 seem the key to watch. GBP/USD 4-hour 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 Bitcoin price prediction: BTC/USD facing this one prominent barrier – Confluence Detector FX Street 4 years GBP/USD bounces off 23.6% Fibonacci retracement, aims for monthly high. Overbought RSI conditions can recall 100-bar SMA on the chart. The GBP/USD pair's U-turn from 23.6% Fibonacci retracement flashes 1.2630 as a quote while heading into the London open on Tuesday. The pair now aims for monthly tops nearing 1.2710 whereas June month high nearing 1.2785 and April lows close to 1.2920 will gain bulls' attention afterward. However, overbought conditions of 14-bar Relative Strength Index (RSI) seem to favor pair's another pullback towards 23.6% Fibonacci retracement level of 1.2530 prior to highlighting 38.2% Fibonacci retracement figure of 1.2420 for bears.… 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.
