The GBPUSD buyers had their opportunity earlier this week, briefly driving the price to the highest level since March 2022 (above 1.3433) — but they couldn’t sustain the breakout. The pair reversed lower after reaching 1.34413, just above the 2024 high of 1.3433, marking a failed upside attempt.
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.
On the downside, buyers showed resilience today as the price found support at yesterday’s low, forming a temporary floor. This repeat bounce raises the importance of this area as a key short-term support level.
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.
If the low price from yesterday and today cannot be broken, dip buyers would still need to get the price back above the 200 and 100-hour moving averages to get more upside confidence.
Sellers are more in control with the corrective highs this week stalling below the hourly moving average levels.
Key Technical Levels
Resistance:
200-hour MA (~1.33298)
100-hour MA (~1.3352)
2024 high: 1.3433
Support:
Double bottom near 1.3259
1.3232 (last week’s low)
1.32017 to 1.3206. (Swing area)
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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