Momentum on move back above the 200 day MA
As posted earlier, the GBPUSD broke below its 200 day moving average earlier in the London session and tried to move back above after finding support near the 100 hour moving average and other support levels.
The most recent move above the 200 day moving average, however, did not find apprehension, but momentum instead. That moving average comes in at 1.26699. The price has moved to a new New York high at 1.27404. The high for the day was up at 1.27549, and would be the next topside target for the pair.
The above the 200 day moving average is more bullish.
