GBPUSD holding support trendline on intraday chart

Written October 26, 2009 at 3:14 PM EST by  

gregmike-05386

The GBPUSD has been more contained today as the EURUSD and USDCHF has taken center stage.

The price is more or less unchanged today (closing at 1.6305 on Friday) after testing the trendline support on the 5 minute chart at the 1.6284.  The current trendline comes in at the 1.6285.  There should be support against thsi level.   

 On the topside look for sellers against the 1.6316 where the 200 bar MA on the 5 minute chart is found.   A move above this level will next target 1.6338.

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