That rally, though, was capped just below key technical levels. The high reached 1.29289—falling between the 100-hour moving average at 1.29256 and the 200-hour moving average at 1.2930. So far, those levels are keeping a lid on further gains.
As long as price stays below the 100- and 200-hour MAs, the short-term bias leans bearish. Still, given the recent whipsaw action, traders should remain flexible and prepared for continued volatility. However, the hourly moving averages will be a barometer for both buyers and sellers. Stay below and the sellers have more control. Move above and the buyers take back control.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about gbpusd rallies off lows but respecting 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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