fundamental News - GBP/USD

GBP/USD remains positive while rising to 1.2875, up 0.31% on a day, during Tuesday’s Asian session. The Cable recently benefited from news shared by The Times that suggests the European Union (EU) is softening the stand over Brexit talks.

Other than the fundamentals, the pair’s ability to cross the 100-day EMA also directs the bulls towards 1.2910/20 resistance confluence comprising 21-day and 50-day EMA.

Should GBP/USD buyers remain firm beyond 1.2920, the 1.3000 psychological magnet and the mid-month high around 1.3010 will be on their radars.

On the contrary, a downside break of 100-day EMA, currently near 1.2830 may rest on 61.8% Fibonacci retracement of June-September upside by the Pound major, at 1.2721 now.

In a case where the quote provides a daily closing below 1.2721, the early July tops near 1.2670 will be in the spotlight.

Source: fxstreet