FOREX CALL: SELL GBPUSD BELOW 1.2070 TARGET 1.2050/1.2030 STOPLOSS 1.2090
GBP/USD bears take a breather around the monthly low after two-day downtrend, marking rounds to 1.2030 during Friday’s Asian session, as the 200-SMA challenges the quote’s immediate downside. Even so, the Cable pair’s sustained trading below the one-month-old ascending trend line, broken on Wednesday, joins the bearish MACD signals to keep sellers hopeful.That said, the 38.2% Fibonacci retracement level of the GBP/USD’s November-December upside, near 1.1950, acts as nearby support for the pair sellers to watch should it manage to provide a clear break of the 200-SMA clutch around 1.2040.
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