Black Pipper

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GBP/USD: 21-day battle EMA, 23.6% Fibo.

GBP/USD is battling between 23,6% and 21 days of the exponential moving average (EMA) Fibonacci retrace the 3-months of its downpour, trading almost 1.2225 before the U.K. open on Tuesday.

While the lack of a two-week rehabilitation after an instant resistance rises the probabilities of its southern-run business, the EMA of 21 days and a two-week ancient trendsetter boost the chance.

This is done by 1.2207 and 1.2100 supports in advance of the monthly depth around 1.2015. The retraction rate on July 17 is almost 1.2382 and in Fibonacci 38.2% all over 1.2 460, if the pair seeks to cross 1.2290 levels including 23.6% Fibonacci retracement.

Also read  GBP/USD breaks down some of its losses, staying above 1.2200

Technical Levels

S1 1.2189
S2 1.2159
S3 1.2110

R1 1.2268
R2 1.2317
R3 1.2347


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