- GBP/USD registers five-day winning streak, probes 50% Fibonacci retracement.
- A clear break of 21-day SMA, bullish MACD favor buyers.
- 200-day SMA, 61.8% Fibonacci retracement on the bulls’ radars.
While extending its run-up beyond 21-day SMA, GBP/USD takes the bids to 1.2460 amid Monday’s Asian session. In doing so, the quote confronts 50% Fibonacci retracement of its declines from December 12, 2019, amid bullish MACD.
Although a clear break of 1.2470 mark comprising 50% Fibonacci retracement becomes necessary for the buyers to justify their strength, major attention is given to the 200-day SMA level of 1.2670 during the further upside.
Additionally, 61.8% Fibonacci retracement level of 1.2715 will also act as an additional challenge to the buyers.
Meanwhile, a daily closing below 21-day SMA level of 1.2355 could drag the quote to a 38.2% Fibonacci retracement level of 1.2217 ahead of highlighting 1.2000 mark for the sellers.
GBP/USD daily chart
Trend: Further recovery expected
additional important levels
|Today last price||1.2458|
|Today Daily Change||4 pips|
|Today Daily Change %||0.03%|
|Today daily open||1.2454|
|Previous Daily High||1.2486|
|Previous Daily Low||1.2133|
|Previous Weekly High||1.2486|
|Previous Weekly Low||1.1447|
|Previous Monthly High||1.3204|
|Previous Monthly Low||1.2726|
|Daily Fibonacci 38.2%||1.2351|
|Daily Fibonacci 61.8%||1.2268|
|Daily Pivot Point S1||1.2229|
|Daily Pivot Point S2||1.2005|
|Daily Pivot Point S3||1.1876|
|Daily Pivot Point R1||1.2582|
|Daily Pivot Point R2||1.271|
|Daily Pivot Point R3||1.2935|
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