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GBPUSD Testing Support At 1.5700

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Declining since hitting the 1.5800 resistance barrier in the overnight session, the GBPUSD has recently run into a major support level just below the 1.5700 psychological mark. The 1.5700 figure is important to note as current price action is using this level as the bottom trendline of the channel it resides in. The GBPUSD currency pair has rebounded in the two times it has been tested over the last week or so.

Read the article here - http://forexalliance.com/2011/10/gbpusd-testing-support-1-5700/

 

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Posted-In: Forex Economics Markets