GBP is trying to boost versus USD in Forex market
3/16/2017 9:35:16 AM
According to Forex market the GBP/USD pair seems to have achieved near 1.2258, now making efforts to reclaim 1.2303 handle.
The 4 hours chart displays that the price rebounded several times intraday from a bullish 25 SMA, whereas technical indicators reclaimed the upside after testing their mid-lines, heading now north at fresh 1-week highs. The pair has a serious persistence at 1.2347. If the price succeeds to break above it, the rally can expand up to 1.2428, the next Fibonacci resistance.
FOREX market analysis by FxErvin.