The British pound has been all over the place during trading here on Tuesday as we continue to squeeze right around the 200-day EMA. In fact, the 50-day EMA is here as well, so with all of that being said, I think we’ve got a situation where traders are looking at this as being essentially fair value between the 1.3250 level underneath offering support and the 1.3550 level above offering resistance. As we are basically in the middle of that, it’s not a huge surprise to see that this market is likely to continue to just bounce around there. After all, this is a market that features 2 currencies that have a reasonably … (full story)
