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GBP/USD rejects clear break above 21 day moving average
Following on from the previous update, noting the fall below 1.04 in the EUR/USD, the GBP/USD has also fallen victim to a rebound in the dollar. As earlier mentioned, the Pound did just edge the noted 21 day moving average (at 1.2574), but not convincingly so, when it touched 1.2576. So, it is hoped you can now see the importance of respecting such technical levels and that is why they are often brought to your attention in the first place. Of course what you choose to do with that information is your affair, but the inference of the previous updates was clear- 1.2574 was an important resistance level. The GBP/USD is currently trading at 1.2527
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