Since then, the pair has moved lower and broke below both the 100- and 200-hour moving averages (blue and green lines on the chart above) on Wednesday. The 100-hour MA capped Wednesday’s corrective rebound keeping the sellers in control in the short term. On Thursday and again today, the lower 200-hour MA (green line) has contained upside attempts, reinforcing resistance.
It would take a move below that level to open the door toward the low from last week and 1.3232. Below that a swing level at 1.3201 – 1.3206 would be targeted.
Sellers are more in control with the corrective highs this week stalling below the hourly moving average levels.
Resistance:
100-hour MA (~1.3352)
Support:
1.3232 (last week’s low)
1.31603 (38.2% retracement)
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about gbpusd keeps the lid on against the 100 hour ma 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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