• GBP/USD extends pullback from 1.2728 to print fresh high since June 10.
  • A falling trend line from March, high marked in June become immediate upside barriers.
  • 200-day SMA, 61.8% Fibonacci retracement be the key supports.

GBP/USD takes the bids near 1.2765, up 0.20% on a day, during the early Friday. The Cable surges to the multi-day high while keeping its trade momentum above 200-day SMA amid MACD. As a result, bulls are likely to attack 1.2800 comprising the resistance line stretched from March 12.

Other than the 1.2800 threshold, June month’s high of 1.2813 and February 20 bottom surrounding 1.2850 will also be the key for the bulls to tackle.

In a case where the buyers manage to cross 1.2850 resistance, 1.3000 psychological magnet and March month’s top near 1.3200 could regain the market’s attention.

Meanwhile, the pair’s daily closing below 200-day SMA level of 1.2700 triggers fresh selling towards 61.8% Fibonacci retracement level of March month’s fall, at 1.2517. In doing so, the early-month high around 1.2670 may offer an intermediate halt.

In a case where the sellers dominate past-1.2517, 1.2500 will validate further weakness targeting the June monthly low near 1.2250.

GBP/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 1.2762
Today Daily Change 21 pips
Today Daily Change % 0.16%
Today daily open 1.2741
 
Trends
Daily SMA20 1.2551
Daily SMA50 1.2485
Daily SMA100 1.2415
Daily SMA200 1.2703
 
Levels
Previous Daily High 1.276
Previous Daily Low 1.2673
Previous Weekly High 1.2666
Previous Weekly Low 1.248
Previous Monthly High 1.2813
Previous Monthly Low 1.2252
Daily Fibonacci 38.2% 1.2727
Daily Fibonacci 61.8% 1.2706
Daily Pivot Point S1 1.2689
Daily Pivot Point S2 1.2638
Daily Pivot Point S3 1.2603
Daily Pivot Point R1 1.2776
Daily Pivot Point R2 1.2812
Daily Pivot Point R3 1.2863

 

 

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