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  4. Technical Analysis: GBP/USD 2012.03.14

Technical Analysis: GBP/USD 2012.03.14

March 14, 2012 10:50

  The pair is trading below the 1.5670-1.5700 support-turned-resistance area, right where the 50-Day SMA and the 100-Day SMA reside, so we look for additional declines towards the 1.5500 support. A break below 1.5500 would aim the pair for testing the 1.5230 low. Only a break and consolidation back above the 1.5700 level would confirm a bullish resumption towards the 200-Day SMA by 1.5870 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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