Technical Analysis: GBP/USD 2012.03.28
March 28, 2012 11:25
The pair did not manage to break above the 1.6000 resistance. However, while it trades above the 200-Day SMA by 1.5850, the risks are on the upside, so we look for a break above 1.6000 to reach the key 1.6165 resistances. Only a daily close below the 200-Day SMA would confirm declines towards the 50-Day SMA by 1.5775, the 100-Day SMA by 1.5680 or the 1.5600 support.
Edward Smith, technical analyst of company Admiral Markets.
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