[U][I]Technical:[/I][/U] [B]GBP/USD[/B]
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Resistance: 2.0250
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Support: 1.9700
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Breaching a strong resistance at the 2.0200 mark
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Analysis of relation in the %K (fast) and %D (slow) stochastic levels indicate overbought levels as the most recent price is moving faster then historical price action.
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Traders and technical analysts will place orders based on these levels, paring back positions as they expect trends to retrace into congestion
See [I]Daily Technicals[/I] for more details:
