GBP/USD: Rally Leaves Sentiment Positive
3cAnalysis | Oct 24, 2014 06:58
Although prices consolidated beneath the 13 day moving average, the bulk of yesterday's losses in GBPUSD were regained into the close. This profit taking from oversold extremes was not extensive – a net decline was still posted – but it is the rejection of the lows that is important.
In addition, Asia has attracted some buying and so, although signals cannot be classed as strong they are positive with scope through 1.6061 to 1.6089, the key 13 day moving average.
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