GBPUSD moves lower on stronger data. Key support remains in tact.

The GBPUSD got a boost from the rating agencies earlier today which reaffirmed the credit rating of the UK debt. This gave the GBPUSD a boost early on and the price even moved above the 100 hour MA. However, no momentum could be established and the price drifted lower. The stronger retail sales shifted focus on the dollar and the pair has since moved below trendline support.
On the downside there is support at the 1.6214 level which is the low price from yesterday. Below that is key support at the 1.6158-66 level where the low from yesterday and the lows from August/September come in.









No Responses to “GBPUSD moves lower on stronger data. Key support remains in tact.”
Add a comment