Technical Analysis

GBPUSD takes a breather. The price is higher but push stalls

Trades above and below the 100 day MA 

The GBPUSD is higher on the day, but the rally higher – although it took out yesterday’s high – stalled ahead of the 50% retracement of last week’s trading range at 1.31759.  The price has rotated back down toward the 100 and 200 hour MA (at 1.3156 and 1.3137 respectively) and the 100 day MA at 1.3145.  The last 4 trading hours have closed above the 100 day MA. Can it make it 5 or is the bullish move up?

We sit in between the MAs looking for the next break with momentum.  Break higher or lower?  

Articles You May Like

Here is what’s on the economic calendar in Asia today – RBA speaker
UK Parliamentary gridlock: Where now for Brexit?
Weekly Trading Forecasts: EURUSD Top Fundamental Candidate on Fed Speculation, ECB Decision Approaches
AUDUSD retraces back toward old swing highs at lows today and bounces
Iran’s top military spokesman: All its drones have returned safely to base – Tasnim

Leave a Reply

Your email address will not be published. Required fields are marked *