Technical Analysis: GBP/USD 2012.04.12

April 12, 2012 11:52

  The pair is trying to continue the uptrend towards the key 1.6165 resistances. The nearest support is still eyed by the 1.5830-1.5850 area, right where the 50-Day SMA and the 200-Day SMA reside. Only a clear break below this area would negate the constructive outlook and confirm declines towards the 100-Day SMA by 1.5700 or the 1.5600 support.    

Edward Smith, technical analyst of company Admiral Markets.

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