GBPUSD looks to test 100 hour MA support at 1.5065

Written March 8, 2010 at 10:26 AM EST by  

gregmike-00754

The 100 hour MA comes in at 1.5065. Look for profit taking/dip buyers against the level.

Topside resistance now comes in at the 1.5092 level and above that at 1.5105. The 1.5092 is the midpoint of the 2 day trading range.  The 1.5105 is the low corrective area from Friday’s trade (see chart below ). 

gregmike-00755

A break of 1.5065 will look toward 1.5020, the low before Friday’s surge higher (post NFP).

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