- GBP/USD carries the latest recovery towards near-term key resistance-line amid bullish MACD.
- 21-DMA can question buyers if the trend-line breaks, 1.2015 becomes the key support.
GBP/USD recovers to 1.2100 as bullish MACD pleases buyers while heading into the UK session open on Friday.
Traders now look forward to a downward sloping trend-line since month-start, at 1.2140 as the key resistance ahead of targeting 21-day moving average (21-DMA) level of 1.2217.
Meanwhile, pair’s decline below the latest low of 1.2015, irrespective of bullish signal from 12-bar moving average convergence and divergence (MACD), opens the door for the fresh plunge to 2017 low of 1.1987 and then towards 2016 bottom surrounding 1.1806.
GBP/USD daily chart
Trend: Recovery expected
|Today last price||1.2098|
|Today Daily Change||12 pips|
|Today Daily Change %||0.10%|
|Today daily open||1.2086|
|Previous Daily High||1.2152|
|Previous Daily Low||1.205|
|Previous Weekly High||1.221|
|Previous Weekly Low||1.2023|
|Previous Monthly High||1.2706|
|Previous Monthly Low||1.2119|
|Daily Fibonacci 38.2%||1.2113|
|Daily Fibonacci 61.8%||1.2089|
|Daily Pivot Point S1||1.204|
|Daily Pivot Point S2||1.1994|
|Daily Pivot Point S3||1.1938|
|Daily Pivot Point R1||1.2141|
|Daily Pivot Point R2||1.2197|
|Daily Pivot Point R3||1.2243|
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