Technical Analysis – GBPUSD tests 1.45 area after correcting recent uptrend
Posted on May 5, 2016 at 6:45 am GMTAfter a steady rise from the key 1.4000 level, GBPUSD reached the 200-day moving average this week but was unable to close above it. This proved to be a strong resistance area and consequently the pair reversed back down. The level at 1.4670 has also proven to be a strong resistance level, which after several tests at this level, prices failed to close above it and fell back down to now test the 1.45 area, an important support level. In [..]