With the prices successfully trading beyond 200-day Simple Moving Average (SMA) and 61.8% Fibonacci retracement of March-September declines, GBP/USD traders are less worried about the latest pullback to 1.2870 by the press time of Friday’s Asian session.

The buyers keep targeting 1.3000 round-figure while taking positive clues from the 12-bar Moving Average Convergence and Divergence (MACD) indicator whereas sellers await a downside break of 61.8% Fibonacci retracement level of 1.2840 to revisit 200-day SMA, at 1.2715 now.

However, pair’s declines below 200-day SMA will recall bears aiming September month high near 1.2580.

On the contrary, an upside beyond 1.3000 could well place optimists to question May’s top of 1.3178.


Source:fxstreet