Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading: GBPUSD testing upside resistance

Posted by Greg Michalowski on Thu, 05/15/2008 - 10:37am in

GBPUSD

The GBPUSD has upside resistance that the market is testing today. The 1.9498 level is the 50% retracement level of the move lower from the May 12th high. The 1.9484 level has both the 100 hour moving average and the down trendline from the high. Traders will be watching this level today and going forward.

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