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Forex technical analysis: GBPUSD consolidates at higher levels

Discussion in 'Technical Analysis' started by ForexLive, Oct 26, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Back below 200 day MA The GBPUSD closed the week below the 200 day MA (green line in the chart below and at 1.5330 today). Earlier in the month, the price traded around this MA for 6 days before surging higher when the employment statistics were better than expectations. That surge higher led to testing of the 100 day MA (blue line) with not much success on pushing above it. At the end of last week's trading, the dollar strength pushed the pair back lower.

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