Technical Analysis: GBP/USD 2012.03.08

March 08, 2012 08:36

The pair managed to hold above the 100-Day SMA, so we look for a rebound back towards the 200-Day SMA by 1.5880, with a break above to continue the uptrend towards 1.6000 or beyond ahead of the key 1.6165 resistances. Meanwhile, breaking below the 100-Day SMA and then breaking the 50-Day SMA by 1.5670 would aim the pair for testing the 1.5500 support. Edward Smith, technical analyst of company Admiral Markets. At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

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