GBP/USD has recovered sharply after showing a minor decline e below 61.8% fibo. The pair has declined till 1.28315 and is currently trading around 1.29142. On the higher side, 1.2978 (21- day EMA) will be acting major re…
GBP/USD has recovered sharply after showing a minor decline e below 61.8% fibo. The pair has declined till 1.28315 and is currently trading around 1.29142.
On the higher side, 1.2978 (21- day EMA) will be acting major resistance and any convincing break above will take the pair slightly till 1.3050/1.3082/1.3105 (61.8% retracement of 1.32680 and 1.28315). The minor resistance is around 1.2945.
The near term support is around 1.28110 (Jul 12th low) and any break below will drag the pair till 1.27763 (38.2% fibo)/1.27000.
It is good to buy on dips around 1.2860-1.2865 for the TP of 1.2810 for the TP of 1.2975/1.3000.
