Thursday, April 2, 2009

Gbp/Usd Resistance At 1.4775


The pound, seen here on the four hour chart has managed to surpass the 100 day moving average and has found resistance at the 1.4775 area. This area is familiar with the pound as this is where the last bullish move fizzled out. If the pair manages to surpass this resistance point, it will run into more a mere 200 pips later at the 1.5000 handle.

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