Technical Analysis

GBPUSD dips again under the 100 day MA

Muddies the water for the bulls once more….

The GBPUSD is dipping again under the damaged 100 day MA at 1.28925, muddying the bullish waters. 

 

The pair moved above the transferring common earlier within the week (Monday and Tuesday). Every run greater finally failed, and the value moved decrease (see purple shaded areas).

Yesterday, the value pushed in opposition to the underside of the MA degree,, however stalled (there was a small break on the finish of the day by a pip or so).   That MA was damaged in the present day (to the upside). The excessive nonetheless, couldn’t prolong to the Monday excessive at 1.29298.  

Now with the dip again under, the bullish waters are muddy as soon as once more.   On extra promoting the 100 hour MA at 1.2858 shall be eyed. Earlier within the day, that MA was shortly damaged, however snapped again greater.  

 

ForexLive


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