FXstreet.com (Barcelona) - According to William Moore, a Technical Markets Strategist at RBS, “The moving average in the GBP/USD has recently converged and suddenly the 5-day broke away with price action yesterday; the equivalent Fibonacci important level in the GBP/USD chart similar to that of the EUR chart is at 1.5951, that is a the 38.2% retracement from the August – September rally.”
“As such, price action is choppy, though with an engrained bearish theme. We reiterate our targeting for the 1.5600 level overall.” writes Moore.
“As such, price action is choppy, though with an engrained bearish theme. We reiterate our targeting for the 1.5600 level overall.” writes Moore.
