GBPUSD looks back toward 100 day MA (and finds support buyers) after the 50% retracement stalls the rally

Technical Analysis

Author: Greg Michalowski | gbpusd

Pair trades between 50% retracement above and 100  day MA below.

The GBPUSD has settled in with resistance up at the 50% of the trading range since June 10. That level comes in at 1.25313. The high price today reached 1.25293.

Pair trades between 50% retracement above and 100  day MA below.

On the downside, the price moved above its 100 day moving average yesterday. That moving average currently comes in at 1.24582. The low price today has reached 1.2467 so far. In between sits the pairs 100 bar moving average on the 4 hour chart at 1.24879.

In between the sits the 100 bar moving average on the 4 hour chart at 1.24879. The price has traded above and below that level in trading today.

The market has defined the range against the technical levels. The current price trades between the extremes.

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