Forex: GBP/USD down 65 pips so far today

on Jul 15, 2013
Listen Monday July 15th_: Last week, the GBP/USD logged a 2.5 percent increase, moving above the 1.5000 level. In trading so far today though, the pair has fallen 0.65 percent from the opening price of 1.5108 to be currently staying around 1.5043.

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The price is at the moment exploring the 89- and 200-hour simple moving averages, which are crossing with the MA89 moving above the MA200.
On the 4H timeframe, the MA89 has been providing resistance since 10 July, with the quote failing to rally above this trend indicator.
Resistances today: 1.5130, 1.5170 and 1.5225.
Supports: 1.5100, 1.5060 and 1.4980.



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GBP Forex