GBP/USD with possible bullish momentum above 1.2920

GBP/USD with possible bullish momentum above 1.2920

2019-11-11 • Updated

GBP/USD is now finding support around a key Fibonacci zone between the 50% and 65% levels. Such area, established in the 1.2967 and 1.2920 levels could bring a fresh momentum for the bulls and if the pair manages to break above 1.3050, it can confirm the bullish scenario and rallies could go as long as 1.3198, at which is located the -23.6% Fibonacci retracement level.

RSI indicator still supports the bullish path, as it remains in the positive territory.

GBPUSDmH1.png

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