GBP/USD technical analysis: Struggles between 21-day EMA, 23.6% Fibo.

GBP/USD refrains from declining below 21-day EMA.
23.6% Fibonacci retracement of May-August declines limit short-term advances.

Anil Panchal FXStreet

GBP/USD struggles between 23.6% Fibonacci retracement of its three-month-old downpour and 21-day exponential moving average (EMA) as it trades near 1.2225 ahead of the UK open on Tuesday.

While pair’s failure to extend two-week long recovery beyond immediate resistance increases the odds of its south-run, 21-day EMA and a fortnight old rising trend-line question sellers.

In doing so, 1.2207 and 1.2100 acts as nearby supports ahead of monthly bottom surrounding 1.2015.

If the pair manages to cross 1.2290 resistance level, including 23.6% Fibonacci retracement, July 17 low near 1.2382 and 38.2% Fibonacci retracement around 1.2460 might as well lure buyers.

GBP/USD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.2224
Today Daily Change	5 pips
Today Daily Change %	0.04%
Today daily open	1.2219

Trends
Daily SMA20	1.2141
Daily SMA50	1.2386
Daily SMA100	1.2621
Daily SMA200	1.2777

Levels
Previous Daily High	1.2287
Previous Daily Low	1.2208
Previous Weekly High	1.2294
Previous Weekly Low	1.2064
Previous Monthly High	1.2706
Previous Monthly Low	1.2119
Daily Fibonacci 38.2%	1.2238
Daily Fibonacci 61.8%	1.2257
Daily Pivot Point S1	1.2189
Daily Pivot Point S2	1.2159
Daily Pivot Point S3	1.211
Daily Pivot Point R1	1.2268
Daily Pivot Point R2	1.2317
Daily Pivot Point R3	1.2347

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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