Technical Analysis: GBP/USD 2012.03.05

March 05, 2012 11:23

The pair dropped below the 200-Day SMA, thus confirming declines towards the 100-Day SMA by 1.5700, with a break below to aim the pair for testing the 1.5500 support. Only a break and consolidation back above the 200-Day SMA would allow reaching the key 1.6165 resistance.

Edward Smith, technical analyst of company Admiral Markets.

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