The GBPUSD is trading to a new low for the day and new low for the week.
The price has now broken below the low from earlier this week at 1.2878. The low going back to March 5 reached 1.28608. A move below the floor area, would have traders looking toward the rising 200 bar MA on the 4-hour chart at 1.2849. The 200-day MA is below that at 1.28116.
Moves below the levels increases the bearish bias.
Conversely, if you are a buyer, this area is an area to buyer with a stop on a break below the 200 day MA.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( GBPUSD falls to new lows and tests the low for the week )
Also on site :
- Petroleum Ministry activates emergency plan for natural gas supply
- Amazon Is Selling a 'Buttery Soft' $60 2-Piece Set for Just $30, and Shoppers Say It 'Feels Like Spanx Air Essentials'
- 7 Places to Visit in Barcelona for an Unforgettable First Trip, According to Nomadic Matt