Analysis of 20-SMA/50-SMA conveys a cross adding further bullish sentiment to GBPUSD

As technical levels become increasingly stretched above the psychologically significant 2.0000 level, cable traders look for signs of a top to form before initiating a short.

[I][U]GBP/USD Technical:[/U][/I] [B]GBP/USD[/B]

  • Resistance: 2.0100
  • Support: 1.9700
    Technical analysts implement the simple moving average tool, expressing a move higher to test the 10-year high of 2.0130 reached on 4/18/07, before a reversal.

[I]See Daily Technicals for more details:[/I]