British Pound Breaching Key 2.0200 Level

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

  • Resistance: 2.0250

  • Support: 1.9700

  • Breaching a strong resistance at the 2.0200 mark

  • 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.

  • 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: