<p>The GBPUSD moved down to test the swing low from last week at 1.19601. The low price they reach 1.1964 and stalled. </p><p>The subsequent bounce has taken the price back above the swing area between 1.1991 and 1.2010 (or 1.2000 if you spilt the difference). That area is now back as support. </p><p>On the top side, the Monday low at 1.20300 is the next target to get to and through. The close price from yesterday was at 1.20329. Move back into positive territory would be another hurdle that should increase the buyers confidence</p>
This article was written by Greg Michalowski at www.forexlive.com.
