The GBPUSD moved lower in trading today, slipping below two important technical levels — the 100-hour moving average at 1.3543 and the 61.8% retracement of the July 1 high to the August 1 low at 1.35397.
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.
For sellers, the strategy is clear: hold below the 100-hour moving average and look for a new low. If bearish momentum develops, the next critical target comes at the 200-hour moving average, currently at 1.3477.
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.Hence then, the article about gbpusd lower but stalls near 100 hour ma retracement level buyers sellers battle it out 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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