Technical Analysis: GBP/USD 2012.03.01
March 01, 2012 10:57
The pair managed to hold above the 200-Day SMA by 1.5900, so we look for an upside rally towards the key 1.6165 resistance. However, a break back below the 200-Day SMA could trigger a setback towards the 100-Day SMA by 1.5700, with a break below to aim the pair for testing the 1.5500 support.
Edward Smith, technical analyst of company Admiral Markets.
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