The 200 bar MA on the Four-hour is being eyed too
I used to be off on Thursday and Friday final week however the worth motion was down and and up and down and up once more. That worth motion allowed for the 100 hour MA to catch as much as the worth. That MA (blue line at 1.29433) was examined on Thursday and once more on Friday. Immediately on the highs, the worth sniffed the MA once more, however sellers leaned and pushed the worth decrease (as soon as once more).
The autumn has taken the worth down towards the 100 day MA (at 1.28912 – see blue overlayed line on the chart above). The 200 bar MA on the Four-hour chart can be shut by at 1.2882. Consumers ought to lean with stops on a break beneath.
Nonetheless, the sellers – who’ve proven the need to maintain management by promoting agaisnt the 100 hour MA above – have room to roam on the draw back. The vary for the day is barely 46 pips up to now. The common for the GBPUSD over the past 22 days (a few month of buying and selling) is 110 pips. That’s quite a lot of area.
The ball remains to be within the sellers court docket. Shorts can search for a break.
On a break beneath, the low from Feb 7 is available in at 1.2853. Under that, and the 50% of the transfer up from the 2019 low is available in at 1.28346.