Falling below the 100 hour MA. 

The GBPUSD is trading to a new session lows and in the process, has moved below the swing area going back to May 10 to May 12 (see yellow area and red numbered circles).  That area is now resistance (PS the 100 hour MA is near the top of that area as well).


On the downside, traders will be targeting the 200 hour MA at 1.41248.  The price fell below the 200 hour MA yesterday and on Wednesday, but could not muster much momentum on the breaks. 



Source link

×