14 Jul 2017
GBP/USD hints at dip buying
The hourly 50-period SMA broke through the slower 200-period SMA, adding credence to the recent bullish GBP/USD profile.
If GBP/USD spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.
If GBP/USD spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.