$GBPUSD Forecast: Buyers need to reclaim 1.2070 to keep recovery alive by eren_fxstreet forex trading
The 200-period SMA on the four-hour chart and the Fibonacci 50% retracement level of the latest downtrend forms strong resistance at 1.2070. In case the pair rises above that level and starts using it as support, additional gains toward 1.2125 and 1.2200 could be witnessed. Meanwhile, the Relative Strength Index on the same chart holds above 50, suggesting that buyers look to retain control.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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