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Posts Tagged ‘GBPUSD’

The pair continues to face downside pressure selling off sharply lower to close the week at 1.6260, slightly below its Nov 27’09 low at 1.6267. Although our nearer term bias remains lower, we would like to see GBP break and hold below its longer term declining trendline to convince the…

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Although a third week of downside closes was recorded the past week, the fact that the last two closes were marginal closes suggests that the bulls are fencing off bears attack. With the pair still holding above its key support at the 1.6267 level and its longer term rising trendline,…

View full post on Forex Weekly Reports (ActionForex.com)