Are GBPUSD sellers giving up? It's trying.

Technical Analysis

Author: Greg Michalowski | gbpusd

100 hour MA is the next hurdle ahead.

The GBPUSD has done two bullish things in the current bar

  1. Held support at the Monday low at 1.2993 area
  2. Moved back above trend line resistance (moved above it on the initial surge higher but that move failed). 
The 2 bullish things may be an indication that the sellers - who have kept this pair offered - may be throwing in at least part of the towel (for the time being at least).

Another sign of more upside potential would be if the price can get - and stay above the 100 hour MA. That MA is currently at 1.30568.    Above that would be the high for the week at the 1.3090 level.   

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