Forex technical analysis: Calling all sellers in the GBPUSD?

Technical Analysis

Author: Greg Michalowski | gpusd

Tests resistance area.


If the sellers are to show up in the GBPUSD, they should show up in this area (risk is defined and limited). The 100 bar MA on the 4 hour chart is at 1.3239, the 50% of the move down from the Monday high is at 1.31416, and the low from Monday is at 1.3233.  That should slow it down.  The question is can we go lower we and how far.  

The pair has had and up and down and up day. We are trading at the highs for the day.   The earlier high for the day was at 1.3227.  A move below that level will take some of the wind out of the move higher, then below 1.3220.  We will see. Risk is defined and limited.



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