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Forex Trading: GBPJPY falls after testing MA Resistance

Posted by Greg Michalowski on Mon, 05/12/2008 - 9:54am in

The GBPJPY tested the 100 hour moving average and reversed this morning. 

The markets are very skittish this morning.  The GBP pairs were all better bid but have reversed some of the gains. 

 

GBPUSD tested the 1.9620 level but fell back to the 1.9600 level. 

EURGBP sold off hard, made it through the 100 hour moving average at 0.7884 but could not stay below the level.

There is little rhyme or reason to the moves which makes trading the market more difficult today.

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