GBPUSD breaking trendline support. Looking for the momentum down.
Written January 15, 2010 at 10:13 AM EST by Greg Michalowski
The GBPUSD is breaking trendline support. Now we are looking for the momentum to the downside to intensify. The trendline broke at 1.6283. Look for the price to stay below the 1.6290 level to keep the pressure on the pair. The downside targer is now the low from yesterday at 1.6249 and then the 100 hour moving average at the 1.6226 level (blue line in the chart above)
Categories: Forex Trading |
(Aug 30, 2010)
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