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Gbp/Usd at 20 SMA

Posted on November 10, 2009 at 12:53 in Short-Term Analysis by Valeria Bednarik

Gbp/Usd is fighting the 20 SMA in the 4 hours charts, that usually acts as strong dynamic support/resistance level. In this case, is giving hte pair support, while CCI has rebounded in the 0.00 line, and turned to the upside, suggesting support zone at 1.6640/60 area won’t be easy to break. We need to see a clear acceleration there, to see the pair reaching the 1.6600 area, next support for today, followed by 1.6550 area. To the upside, resistances come at 1.6700, 1.6735 and 1.6780.

Tags: gbpusd

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