GBPUSD tests 50% and 100 hour MA. Key level.

The GBPUSD is testing the key 50 % retracement and 100 hour MA at the 1.5484-93 area. There should be sellers against the level with stops on a move above. Traders will look toward the 1.5464-70 as support now. THis is the 38.2%-50% of the quick 50 pip move higher.

On a break higher the 1.5506 is the next upside target at the 61.8% of the weeks move down. Above that a move toward the 200 hour MA at the 1.5540 area will be eyed.