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Greg Michalowski

GBP/USD Breaks Below Daily Moving Average

By Greg Michalowski on July 3, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

Sterling broke below its 10 day moving average today of 1.6420. If the market could stay below that level it may retest the 21 day moving average of 1.6331. If the 21 day moving average breaks the next support level would be in the 1.6188 area as illustrated by a trendline of recent lows on chart below. Overhead resistance is at 1.6594.

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