$GBPUSD testing support at 1.5957.

Written September 30, 2009 at 10:07 AM EST by  

gregmike-05106

The GBPUSD is moving through the 100 hour MA support at the 1.5957 level and has further channel trendline support down below at the 1.5933 level. The close from yesterday was 1.5960 level.  If the price can not bounce back above these levels soon (1.5957 and 1.5960), look for another leg to the downside.  Nevertheless, corrections higher should be limted to a 1.5987 level – the high from yesterday.

gregmike-05107

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