Technical Analysis: GBP/USD 2012.03.23
March 23, 2012 11:14
The pair broke below the 200-Day SMA, thus increasing risks of a setback towards the 1.5680-1.5740 support area, right where the 50-Day SMA and the 100-Day SMA reside. However, a break and consolidation back above the 200-Day SMA would confirm the uptrend ahead of the 1.6000 and 1.6165 resistances.
Edward Smith, technical analyst of company Admiral Markets.
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