100 and 200 hour MA converged at 1.2622
The GBPUSD has pushed to new session highs, and in the process moves farther away from the converged 100 and 200 hour MAs at 1.2622. A few hours ago, the price extended above those MAs and apart from a quick corrective move to 1.26195 (that reversed back above after two minutes). The pair has also moved above a trend line on the hourly chart. The next target comes in at the 50% of the move down at the 1.26609 level. Above that the HIGH from November stalled at 1.26728.
Looking at the daily chart, the 100 day MA comes in at 1.27704 today. Last week, the price high sniffed that MA (see blue line in the chart below), but sellers did come in early. The price has not traded above the 100 day MA since Brexit day back on June 24th.
