Forex- GBP is lower In front of USD, GBP close rate is 1.3006
GBP/USD seesaws near 1.3003 From to Tuesday evening depend on Asian Sessions. If you look the pair recently broke an ascending trend order line extend from till February 10 but is resting on 38.2% Fibonacci backtrack level then they decline from January 31 to February 10.
According to the country pair resistance on pair’s evacuation. Beyond the support-turned-resistance, near 1.2998 now, needs to cross the key 1.2986 confluence including 200-bar SMA and 50% Fibonacci retracement to take aim at the key 1.3040
However, normal RSI conditions and sustained trading below the support-turned-resistance keep sellers hopeful.
In doing so, early-February highs near 1.2945 and 1.2900 will be on their radars whereas the monthly low near 1.2875 could please then afterward.