A break above this midpoint would bring the next key resistance into focus: the 100-bar MA on the 4-hour chart, currently at 1.2352. Notably, this MA previously stalled a rally on January 7, underscoring its significance today and in the days ahead. A sustained move above this level would signal further bullish potential.
Beyond that, traders would target the 38.2% retracement of the larger decline from the December high, which sits at 1.2369. This level represents another critical resistance point that would need to be cleared to reinforce a stronger bullish bias. For now, the focus remains on whether buyers can maintain momentum above these progressively important resistance levels.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about gbpusd retracing declines after support buyers lean against the 100 200 hour mas was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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