Yesterday, the GBPUSD reached a fresh high of 1.34413—its strongest level since February 2022—but the rally stalled just 7-8 pips above the 2024 high at 1.3433. That failed break marked a turning point, and sellers have since regained control.
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.
The break of the prior day’s low and support at 1.33784 further tilted momentum lower.
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.
On the daily chart, the failure to hold above the 2024 high reinforces the significance of the 1.3433 level. Unless buyers can reclaim that zone, the broader breakout attempt risks fading further.
Key technical levels:
Resistance: 1.33547 (100-hour MA), 1.33405 (200-hour MA),
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.
Read More Details
Finally We wish PressBee provided you with enough information of ( GBPUSD retreats after false break of 2024 high — sellers regain short-term control )
Also on site :
- Ukraine-Russia war latest: Zelensky awaits Putin response to new peace plan while Christmas Eve blast kills 3 in Moscow
- JCPenney Has a 'Stunning' White Sapphire Jewelry Set on Sale for Just $16, and It's Perfect for Every Occasion
- ‘Adopt-a-Grandparent’: DJ’s Christmas event reminds nursing home residents that somebody cares