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GBPUSD falls below support at 1.5629/36 and tests 100 bar MA

Written February 8, 2010 at 1:54 PM EST by Greg Michalowski 

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The 1.5629/36 level was resistance on the way up today, support on the correction and then the level gave way leading a move down to test the 100 bar MA on the 5 minute chart at the 1.5606 level (low reached 1.5604).  The price has rebounded off the low.  The price should now find resistance at the 1.5629 level.

Categories: Forex Trading  |  
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