Forex Trading: GBP/USD Intraday Picture At Crossroad

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Forex Trading: GBP/USD Intraday Picture At Crossroad

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

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GBP/USD broke through the intraday support at the 1.5244 level and moved to a low of 1.5210. The 1.5210 level represents the 50% midpoint of the days range. The pair has moved back to test the break level.

So the pair is at a crossroad again on an intraday trading basis. Does it break back above the 1.5244-56 level and continue the move higher, or will the midpoint be tested again?

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