GBPUSD extends back up toward 200 day MA ...Middle East

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GBPUSD extends back up toward 200 day MA
Like the EURUSD (see post here), the GBPUSD moved sharply higher on Tuesday helped by the weaker CPI data. That took the pair above its 200-day moving average currently at 1.2443, and 38.2% of the move down from the July high at 1.2458. The high price of 1.2505 got the GBPUSD price within 8/9 pips of the falling 100-day moving average target (blue step line in the chart above). Sellers leaned against the key MA target. The price of the GBPUSD rotated lower on Wednesday and into Thursday helped by lower UK CPI data, but the low stalled ahead of a modest swing level target at 1.2368 (see red numbered circles – the low price reached 1.2375).Since then the price has been trading up and down. Th

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