Bulls eye key resistance confluence above 1.2900 amid Brexit optimism – GBP/USD

 

  • 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 the day, during the Asian session on Tuesday. The cable recently received new shared by the Times suggesting the European Union (EU) is soften position on Brexit negotiations.

In addition to the basic principles, the pair of the ability to cross the EMA 100 days also directs bubbles to 1.2910 / 20 confluency comprising resistance 21 days and 50 days EMA.

Should GBP/USD buyers remain firm beyond 1.2920, 1.3000 psychological magnet and upper mid-month around 1.3010 will be on their radar.

On the contrary, a break down of the EMA 100 days, currently near 1.2830 may be based on 61.8% Fibonacci retracement of the rise from June to September by Major Pound at 1.2721 now.

If the quote provides a daily closing below 1.2721, the first peaks in July near 1.2670 will be honored.

GBP/USD CHART


The market prediction is according to TopAsiaFX

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