Forex Trading: GBP/USD Finds Some Temporary Support At 50%

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Forex Trading: GBP/USD Finds Some Temporary Support At 50%

By Greg Michalowski on February 12, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The GBP/USD took a breather after dropping fast as the 50.0% Fibonacci retracement was hit (using 1/26’s low and 2/9’s high). The pair was trading flat until Europe entered the market and started selling GBP hard across the board.

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