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GBP/USD Classical Technical Report 02.27

GBP/USD Classical Technical Report 02.27

Joel Kruger, Technical Strategist
Daily_Classical_GBPUSD_body_gbp2.png, GBP/USD Classical Technical Report 02.27

GBP/USD: Overall, the market remains locked in a choppy consolidation with setbacks more or less supported by the 100-Day SMA and rallies well capped towards the 200-Day SMA. The market has been bid in recent sessions to open a test of the 200-Day SMA, but a break and close above the longer-term SMA will be required to force a directional shift in the structure. Best to stand aside now and wait for a clearer signal while the market chops around.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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