A live wire at the 1.32122-149.
The GBPUSD just moved up to 1.32126. The 100 bar MA on the 4-hour chart is at 1.3213. The 200 hour MA is at 1.32149. The 50% of the move down from the October 13 high comes in at 1.32122.
The area between 1.32122-149 is like a live wire. Traders know it is there. They are trying to stay away from it.
The price is back down to 1.3203 level. If the price stays below, we could see a rotation back down to the 1.31767-826 area.
Shorts are ok against the "live wire" area above. If the price moves above the level(s), look for stops to be triggered and a run higher. The high for the the day at 1.3226 and the 61.8% of the move down at 1.32417 would be targets on a break higher.
