Technical Analysis – GBPUSD bearish
Posted on April 7, 2014 at 8:31 am GMTGBPUSD is consolidating around 1.6573 which is the 50% Fibonacci retracement level of the recent upleg from the March 24 low (1.6464) to the March 31 high (1.6683). The pair is looking bearish on the 4-hour chart after having declined steadily form the March 31 high. The 20-period moving average crossed below the 50-period, which is a bearish cross. RSI is below 50 and MACD is below zero. Next support comes in a 1.6549 (61.8% Fibonacci and close to Friday’s [..]