GBPUSD moves up toward key 200 hour MA/50% retracement

Technical Analysis

Author: Greg Michalowski | gbpusd

The 200 hour MA and 50% retracement at 1.41657

The GBPUSD is trading at a new New York session high and in the process is getting closer to the 200 hour moving average AND 50% retracement of the June trading range at 1.41657. 

The 200 hour MA and 50% retracement at 1.41657
Sellers earlier in the London session leaned against the 200 hour moving average. The same may be expected once again with the 50% joining the moving average this time.  However, if there is a break, there should be stops and more upside probing.  

The next key area would be up near the 1.41937 to 1.4203 area.  The high last week reach 1.4203. The high Friday reach 1.4200.  

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