GBP/USD Sell Recommendation Issued @1.5655 (Daily FX)
May 20, 2009 by admin · Leave a Comment
Gbp/Usd: With the daily RSI approaching the overbought 70 reading, we do not see gains extending much further and will be looking to establish a counter-trend short on any rallies back above the 200-Day SMA which currently comes in at 1.5555. The pair does have a tendency to overshoot its target and as such, selling directly at the 200-Day SMA today is not recommended.
