- GBPUSD stays firm after breaking 100-day EMA the previous day.
- EU policymakers show preparedness to work on legal agreement.
- A joint of 21-day and 50-day EMAs lures the pair buyers.
- 61.8% Fibonacci retracement adds to the downside support.
GBP/USD remains positive while rising to 1.2875, up 0.31% on a day, during Tuesday’s Asian session. The Cable recently benefited from news shared by The Times that suggests the European Union (EU) is softening the stand over Brexit talks.
Other than the fundamentals, the pair’s ability to cross the 100-day EMA also directs the bulls towards 1.2910/20 resistance confluence comprising 21-day and 50-day EMA.
Should GBP/USD buyers remain firm beyond 1.2920, the 1.3000 psychological magnet and the mid-month high around 1.3010 will be on their radars.
On the contrary, a downside break of 100-day EMA, currently near 1.2830 may rest on 61.8% Fibonacci retracement of June-September upside by the Pound major, at 1.2721 now.
In a case where the quote provides a daily closing below 1.2721, the early July tops near 1.2670 will be in the spotlight.
GBP/USD daily chart
Trend: Further upside expected
Additional important levels
|Today last price||1.2875|
|Today Daily Change||41 pips|
|Today Daily Change %||0.32%|
|Today daily open||1.2834|
|Previous Daily High||1.293|
|Previous Daily Low||1.2747|
|Previous Weekly High||1.2967|
|Previous Weekly Low||1.2676|
|Previous Monthly High||1.3396|
|Previous Monthly Low||1.2982|
|Daily Fibonacci 38.2%||1.286|
|Daily Fibonacci 61.8%||1.2817|
|Daily Pivot Point S1||1.2744|
|Daily Pivot Point S2||1.2654|
|Daily Pivot Point S3||1.2561|
|Daily Pivot Point R1||1.2927|
|Daily Pivot Point R2||1.302|
|Daily Pivot Point R3||1.3111|
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