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Forex technical analysis: GBPUSD trading near MA/50% retracement

Discussion in 'Technical Analysis' started by ForexLive, Aug 29, 2016.

  1. ForexLive

    ForexLive Forum Member

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    The 1.3071 level has been broken but trades above and below the level The GBPUSD has continued its move to the downside after seeing selling on Friday on the back of the Fed speakers at Jackson Hole. The pair has moved below the the 1.3085-97 area which was a ceiling earlier in the month (see blue circles). That area is now intraday resistance for patient sellers. It also is a risk level for shorts.

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