Forex Trading: GBPUSD Holding The Short Term Support Level, But Upside Resistance Not Too Far Away.
The GBPUSD held the converged 100 and 200 bar MA at the 1.0530 level and bounced. The ability to hold suggest higher prices but will also provide a stop level should the price not advance. Traders are still not comfortable with the moves and with a ceiling on the same chart at the 1.5066, the bulls have a level to lean against and the bears do too. So watch closely and look for a break.
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