GBPUSD holds the 100 day MA

Technical Analysis

Author: Greg Michalowski | gbpusd

Bounces off the MA line

The GBPUSD fell to a new session low, but was able to find the support buyers against the 100 day MA. That MA comes in at 1.2458. The low reached 1.24585.

Bounces off the MA line
Staying above the level keeps the dip buyers in the game. A move below, however, and we should see more selling. 

As outlined in an earlier post, the high today stalled just ahead of its 50% midpoint of the move down from the June 10 high (see post here). 

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