| Jul 31, 2013 10:34AM GMT |
The GBP/USD pair has broken its upward trend line on a 30 minute time. The price is trading below the 50 day (shown in green) and the 100day (shown in yellow) moving averages which means that the bears are in control. Moreover, the price is also respecting its downward trend line and has failed so far to break this line to the upside which further confirms the above argument.
The RSI is showing a clear sign of deflection which means that the bias could be towards the upside.Important LevelsResistance Zones
1.5528-1.5481 MinorSupport Zone
1.4907-1.4874 MajorDISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.by Naeem Aslam
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