A test of lower support levels for the GBPUSD may be in the cards

Written March 17, 2010 at 10:38 AM EST by  

gregmike-008701

The GBPUSD continues to make lower highs and his pounding the support at the 1.5314 level. A break will next target key support at the 1.5294 level.  The low corrective price off the unemployment enduced spike comes in at 1.5296.  The 100 hour bar MA comes ina t 1.5296 currently and the 50% retracement of the move higher today comes in at the 1.5294.  All give traders a level to lean against, with stops on a move below.

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