GBPUSD continues its run to the next target at the 200 hour moving average

Technical Analysis

Author: Greg Michalowski | gbpusd

The 200 hour moving average comes in at 1.37485

The 200 hour moving average comes in at 1.37485_
The GBPUSD as continues run to the next target at the 200 hour moving average. That level comes in at 1.37485. THe price has so far stalled near that level as some traders leaned against the risk defining level.  A move above would next target the 50% midpoint of the move down from last week's high at 1.37606.

The 38.2% retracement 1.37247 is now a risk defining level.  Move back below that level and there could be more probing to the downside.  

Key target and level for both buyers and sellers.  The buyers have been in firm control as the price trend higher. However, will the MA put a stall on that trend?

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