GBPUSD reaches 200 hour MA at 1.5537

The surprise attack in the EURUSD was also a benefit to the GBPUSD. The price zipped up above the 100 hour MA, the 61.8% at 1.5506 and bounced up to the 200 hour MA (green line in the chart above) at the 1.5537 level. Also at the level is the underside of the broken trend line that defined the upward channel earlier in the week. Support now will come against the earlier high and 61.8% retracement at the 1.5506.