On the hourly chart, the price action today has shifted more definitively to the downside. After testing and briefly bouncing off the 200-hour moving average (now at 1.33405), GBPUSD fell back below both the 200-hour and 100-hour MAs (the latter at 1.33547), turning those levels into short-term risk zones for sellers.
Staying below both moving averages keeps the short-term bearish bias intact. Traders will now look for continued downside momentum, with key support levels eyed at 1.33221 and 1.3300.
Key technical levels:
Support: 1.3292 (swing high from April 16)., 1.32328 (low from last week)
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about gbpusd retreats after false break of 2024 high sellers regain short term control 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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