A slow start of the day, besides the GBP pairs - Forex News by FX Leaders

A slow start of the day, besides the GBP pairs

Posted Wednesday, July 13, 2016 by
Skerdian Meta • 1 min read

It has been a pretty quiet morning so far. The range has been narrow in most forex pairs except the GBP pairs. The range in GBP/USD has been around 100 pips wide in the last several hours but even that seems narrow comparing to the volatility we have seen recently in the GBP pairs. The 1.33 resistance level is now history and the next level of importance which might provide some solid resistance is 1.35.

The 100 moving average at 1.35 is the next target

There´s still some way to go but the way this pair has climbed in the last few days has been impressive, so don´t be surprised to see that level tested today. 1.3500-1.3530 has provided resistance before and the 100 simple moving average is hanging around there so that might be a good place to open a long term sell forex signal. That said, nothing is set in stone, we will decide as it goes, judging by the price action.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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