GBPUSD downside off of moving average technical support

Technical Analysis

Author: Greg Michalowski | gbpusd

200 hour moving average stalls the fall along with a swing area

The GBPUSD fell below its 100 hour moving average (blue line) at 1.33520. An EU official said that Brexit negotiations are still far apart. 

The fall to the downside saw the price move below a upward sloping trendline connecting recent lows from this week but did stall right ahead of its 200 hour moving average at 1.3309.  A swing area up to 1.33116, was also tested. The low price reached 1.3310 and bounced.

The price has since moved back up and is currently retesting its 100 hour moving average 1.33520.  Get back above that level would tilt the bias more into the buyers direction. Stay below and the buyers and sellers are battling between the moving average levels.
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