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GBP/USD technical analysis: 100-DMA, 38.2% Fibo. confluence regains market attention

29 days ago   |   By FXCM

GBP/USD again confronts the key resistance-confluence amid strong RSI support.
A two-week-old rising trend-line offers immediate support.
GBP/USD nears crucial technical indicators while taking rounds to 1.2500 during Wednesday's Asian session.
With the 14-day relative strength index indicating the strength of upside momentum, the quote is likely to cross the 1.2500/05 confluence including 100-day simple moving average and 38.2% Fibonacci retracement of March-September declines.
However, a sustained break of weekly top surrounding 1.2530 become necessary to convince buyers targeting...
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