fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: GBP/USD steps up from the 20-day SMA  Thu Mar 21, 2013 1:10 pm | |
| GBP/USD steps up from the 20-day SMA 'The economy is not growing, the pound will go on slipping and we will lose further credit ratings.' - Robert Skidelsky, a member of the upper chamber of Parliament (based on Reuters) Pair's Outlook GBP/USD experienced a very volatile trading session yesterday, as the price set a 160 pips wide daily range, but closed almost unchanged. Such movement indicates a harsh fight between bulls and bears and, since the Cable failed to breach the 20-day SMA, bulls might take the lead now. The closest resistance is the Bollinger band and weekly R1 at 1.5227/43 area. Traders' Sentiment SWFX market participants added 1% to the buy side and enlarged it to 62%, indicating that they still anticipate a recovery of the Cable. Waiting orders segment provides marginally promising data, as bulls, 51%, have only a minor 2% advantage over bears, 49%  | |
|
