GBPUSD moves higher in sympathy with bailout talk
Written February 9, 2010 at 12:01 PM EST by Greg Michalowski
The 1.5689 level is the 38.2% retracement level of the 2009 high to low range. The 1.5706 level is the low from October 2009. The market should find resistance against these levels. However, of more significance may be the break of the range that has put a strangle on the GBPUSD for the last two days. The highover that period should now be support at the 1.5658 area.
Categories: Forex Trading |
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