GBP/USD pierced through 1.2700, where the 50-, 100- and 200-period Simple Moving Averages (SMA) on the 4-hour chart are located, and closed the last 4 4-hour candles above that level. Meanwhile, the Relative Strength Index (RSI) indicator rose to 60, confirming the bullish tilt in the short-term outlook.
On the upside, 1.2780 (static level) aligns as interim resistance before 1.2820 (end-point of the latest uptrend) and 1.2860 (static level from July). Strong support is located at 1.2700 before 1.2650 (Fibonacci 23.6% retracement).
Gbpusd sell now 1.27635
Confirm Target 1.26073
On the upside, 1.2780 (static level) aligns as interim resistance before 1.2820 (end-point of the latest uptrend) and 1.2860 (static level from July). Strong support is located at 1.2700 before 1.2650 (Fibonacci 23.6% retracement).
Gbpusd sell now 1.27635
Confirm Target 1.26073
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