Technical Analysis: GBP/USD 2012.04.16

April 16, 2012 11:36

The pair dropped back to the 1.5830-1.5850 support area, right where the 50-Day SMA and the 200-Day SMA reside. A clear break below this area and then consolidating below 1.5800 would confirm declines towards the 100-Day SMA by 1.5700 or the 1.5600 support. However, while the pair trades above 1.5800, the risks are on the upside, and we look for an upside run towards the key 1.6165 resistances. 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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