Technical Analysis: GBP/USD 2012.04.17

April 17, 2012 11:50

The pair managed to hold above the 1.5830-1.5850 support area, right where the 50-Day SMA and the 200-Day SMA reside, so the risks are on the upside, and we look for an upside run towards the key 1.6165 resistances. Only a clear break below the 1.5830-1.5850 support area and then consolidating below 1.5800 would confirm declines towards the 100-Day SMA by 1.5700 or 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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