FXstreet.com (San Francisco) - GBP/USD dipped to a fresh 2-day low of 1.5611 late Friday, currently finding support at the 55 EMA on the 4-hour chart, recording a 0.6% loss on the day and set to finish the week up 0.2%.
“The price however is getting closer to the 38.2% retracement target at the 1.56049,” notes Greg Michalowski, editor at Forex Live. “I would think that there should be additional profit taking bids against stops below.”
“The price however is getting closer to the 38.2% retracement target at the 1.56049,” notes Greg Michalowski, editor at Forex Live. “I would think that there should be additional profit taking bids against stops below.”
