The British Pound draws closer to its 200day moving average at 1.5596 against the US Dollar

[RTFX-Trading]

The British Pound draws closer to its 200day moving average at 1.5596 against the US Dollar.

The Pound against Dollar currency pair deals around 1.5500. We have heard that there are a number of buyer’s stop orders above 1.5523, yesterday’s high. We noticed a number of buyers this morning around 1.5450-70. It seems that the GBPUSD is moving towards its 200day moving average 1.5596. The 200 day moving average, like the 100day moving average, are very important reference points for investors who have views over the medium term. The last time that both moving averages were close to eachother was in July 2008, the GBPUSD was then trading at 2.0000!


Emman Xuereb
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