100 hour MA stalled the rally. GBPUSD stalled near swing area target
The EURUSD moved to the 100 hour MA (blue line in the chart above -see earlier post), peaked above that line, and fell off. Sellers leaned against the MA line and keep the sellers more in control. As mentioned in an earlier post the pair is in a low 113 pip trading range for the week. The midpoint come in at 1.15868. The price trades a little below that midpoint now. The 100 hour MA remains a key level to get and stay above.
For the GBPUSD, the rally higher today stalled at the topside swing area in the 1.3203-10 area (see earlier post outlining this key area). The high reached 1.32046 and stalled. The price has moved back toward the close from yesterday at the 1.3171 level and stalled there.
So the pair remains higher on the day but can't take out topside trend line.
The buyers are trying to keep some intraday bias by staying higher on the day, but those buyers still need to get above the swing area at 1.32036-103 area. The battle continues.
The rallies today, were a step higher, but the price momentum stalled. The selling is not getting out of hand though, but the major bias on the charts is from higher to lower.
We can go higher but the buyers need to start winning by getting through targets of importance. If they can't, the buyers are not winning.
