Market Update 3/22 – Commodity FX Breaks Out
GBPUSD has already followed through on last week’s reversal. This is somewhat frustrating because we didn’t get a chance to buy proposed 1.3080/90 support. In any case, support now should be 1.3194-1.3210. The big test on the upside (near term at least) is 1.3360. This is the January low and 200 period average on the 4 hour chart.