GBPUSD cracks 100 hour MA (with help from Bullard comment)

Technical Analysis

Author: Greg Michalowski | gbpusd

Price falls below 200 bar MA on 4-hour, 50% and 100 hour MA

The comments from Bullard helped to push the price below a cluster support area in the GBPUSD (see earlier post outlining the levels "GBPUSD corrects lower toward cluster of support targets"). That level stalled the fall earlier in the day increasing the levels importance. The break - not surprisingly - triggered stops. The price is now looking toward the 100 bar MA on the 4-hour chart and below that the 200 hour MA at 1.26727 and 1.26519 respectively.   The risk is now the cluster (now above).   

Price falls below 200 bar MA on 4-hour, 50% and 100 hour MA
Powell is up next.  Bullard is supposed to be the dove of the two. Meanwhile...Pres. Trump is probably waiting to hear what he has to say....

ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose