GBPUSD Followup 2- Forex Chart Alert

June 23, 2013 in Chart Alert

GBP/USD had found support near 55-day EMA but fell again before testing 200-day SMA. Please check the previous GBP/USD alert here. The recent fall tried to break below the mentioned support but the price action closed for the week at the 55-day EMA.

GBP/USD with 200 day moving average and 55-day EMA

GBP/USD - failure ahead of 200-day moving average

GBP/USD and 61.8% retracement

GBP/USD and retracement levels

The above chart shows the support near 50% retracement level. If this support does not hold then a move towards 61.8% retracement can be expected. The 38.2% retracement level should now act as resistance.

Please check all the GBP/USD chart alerts here and also chart alerts for other currency pairs also.

Please check the GBP/USD’s weekly predictions and also GBP/USD technical analysis which is updated daily.

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