GBPUSD lower but stalls near 100 hour MA/retracement level. Buyers/sellers battle it out. ...Middle East

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Although these breaks were significant, the downside momentum has remained limited. The pair extended to a low of 1.35301 before rebounding modestly, with the current price hovering near 1.3539.

Buyers, however, will be eyeing a recovery if the price can climb back above 1.3561. A stronger push through the swing area between 1.3576 and 1.3592 would be required to build sustained upside momentum.

It is worth noting that last week’s highs stalled within that same swing zone up to 1.3592, reinforcing its importance and keeping sellers in control for now despite the lack of strong follow-through to the downside. Buyers and sellers are battling it out.

This article was written by Greg Michalowski at investinglive.com.

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