Filed Under:
Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "After the GBP managed to break the pivot level between 1.5916/36 it ran into some serious resistance at the 25-day moving average at the 1.5980 level. There is also the green trend line of resistance, which sits just above the collection of averages at 1.5997 so that is the fade zone today; between the 25 day moving average and the trend line of resistance (1.5980/1.6000) stops can be 30 pips higher around the 1.6030 level (which also will let the resistance at 1.6011 work) and targets down to the range lows at 1.5876."
comments powered by Disqus