Technical Analysis: GBP/USD 2012.03.12

March 12, 2012 10:47

The pair is trying to break below the 1.5670-1.5700 support area, right where the 50-Day SMA and the 100-Day SMA reside. Should it succeed, the corrective decline will likely continue towards the 1.5500 support, with a break below to aim the pair for testing the 1.5230 low. Otherwise, we could see a bullish resumption towards the 200-Day SMA by 1.5875 or the 1.6000 resistance. 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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