In my piece a couple of days ago (GBPUSD – Dollar Regains Control in Cable Battle) I highlighted the 1.5170-1.5220 region as potentially being key after the pair broke through a number of support levels and the dollar asserted its dominance. This region was particularly notable as asidefrom previously being a key region of support and resistance, it also marks the 50% retracement of the move from 13 April lows to 14 May highs and the reversion to the 89-day simple moving average. Often in the past, price action has bounced off the 89-DMA and the trend continued. When it hasn’t it has been a good indication that the ... (full story)