Technical Analysis: GBP/USD 2012.05.15

May 15, 2012 11:31

The pair is consolidating by 1.6100. Now the risks are mixed, and from current levels we could either see an additional decline towards the 50-Day SMA by 1.5975 or a rebound towards the 1.6300 resistance. A daily close below the 50-Day SMA would extend declines towards the 1.5810-1.5830 support area, right where the 200-Day SMA and the 100-Day SMA reside. A clear break above 1.6300 would confirm the uptrend ahead of the 1.6750 high. 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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