Technical Analysis: GBP/USD 2012.03.20
March 20, 2012 10:26
The pair broke above the 200-Day SMA by 1.5860. Should it hold on its gains, it will confirm the uptrend towards the 1.6000 and 1.6165 resistances. Otherwise, we could see a setback towards the 1.5685-1.5700 support area, right where the 50-Day SMA and the 100-Day SMA reside, with a break below to extend declines towards the 1.5500 support.
Edward Smith, technical analyst of company Admiral Markets.
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