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GBP/USD Classical 03.22

GBP/USD Classical 03.22

2011-03-22 06:07:00
Joel Kruger, Technical Strategist
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GBPUSD_CLassical_body_gbp2.png, GBP/USD Classical 03.22

GBP/USD : The 1.6300 handle continues to be a difficult obstacle for bulls, with the market unable to hold above the figure for any meaningful period of time. As such, we would warn that the latest rally above the figure should be met with reservation, as the market could once again stall out above the figure. In the interim, key short-term support comes in by 1.6060 and a break back below would be required to take the pressure off of the topside.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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