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  4. Technical Analysis: GBP/USD 2012.03.21

Technical Analysis: GBP/USD 2012.03.21

March 21, 2012 10:47

  The pair is trading above the 200-Day SMA, so we look for additional gains towards the 1.6000 and 1.6165 resistances. Meanwhile, a break back below the 200-Day SMA could trigger a setback towards the 1.5685-1.5720 support area, right where the 50-Day SMA and the 100-Day SMA reside, with a break below to extend declines towards the 1.5600 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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