Stay below 1.2948 and 1.2964. Get below 100 hour MA.
The GBPUSD stalled at 1.2988. The price could not get to the 1.3000 level. The 2nd attempt higher today, stalled at the 1.29855 level - short of the 1.2988 earlier high.
Those sellers against the high/against the 1.3000 level has led to selling. The price has wandered lower.
On the way, the price moved below the 1.2964 level. That was the swing high from April 28th. It moved below it twice today. The first time saw the price stall at the high from May 3rd at 1.2948. The 2nd move below the level has seen more selling against the the level. We moved below the 1.2948. We are trying to stay below both now. Traders are thinking "The top might be in place?".
ON the downside, the 38.2% and the 100 hour MA are the next targets. Get below and even more traders will be talking about a top-ish GBPUSD.
