- GBP/USD carries the latest recovery towards near-term key resistance-line amid bullish MACD.
- 21-DMA can question buyers if the trend-line breaks, 1.2015 becomes the key support.
GBP/USD recovers to 1.2100 as bullish MACD pleases buyers while heading into the UK session open on Friday.
Traders now look forward to a downward sloping trend-line since month-start, at 1.2140 as the key resistance ahead of targeting 21-day moving average (21-DMA) level of 1.2217.
Meanwhile, pair’s decline below the latest low of 1.2015, irrespective of bullish signal from 12-bar moving average convergence and divergence (MACD), opens the door for the fresh plunge to 2017 low of 1.1987 and then towards 2016 bottom surrounding 1.1806.
GBP/USD daily chart
Trend: Recovery expected