Technical Analysis: GBP/USD 2012.03.09

March 09, 2012 09:01

The pair surged back to 1.5800 and in a short-term could reach the 200-Day SMA by 1.5880. A break and consolidation above this level would confirm the uptrend towards 1.6000 or beyond ahead of the key 1.6165 resistances. However, a reversal by the 200-Day SMA could trigger a setback towards the 1.5670-1.5700 support area, right where the 50-Day SMA and the 100-Day SMA reside, with a break below to 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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