Been above before. The problem is staying above...
The GBPUSD has moved above it's 200 hour MA at 1.2921 level. The price has been above this MA a few times this week - the last earlier in the day before the inflation data. Yesterday, the pair also moved above, only to stall and fall. So this is another test to see if the buyers can turn the ceiling into the floor (at 1.2921 area). Stay above is more bullish. Fail and move back below and it is not so bullish.
For a more detailed discussion on the GBPUSD CLICK HERE.
The EURUSD is making new highs for the day and tests 1.11000.The USDCHF is making new lows and has dipped below the 0.9855 support (trades at 0.9850).THE USDCAD is testing support at 1.3575.
