GBPUSD returns back to MAs after up and down volatility after BOE decision

Technical Analysis

Author: Greg Michalowski | gbpusd

Bright trades between the 100 hour moving average at 1.3881 and the 200 hour moving average of 1.38972

The GBPUSD had a volatile time of the through the BOE rate decision. 

Bright trades between the 100 hour moving average at 1.3881 and the 200 hour moving average of 1.38972_
The price - on the initial move lower - was able to dipped below the 100 hour moving average currently at 1.3881 and move down to a low for the day at 1.3856 (near a swing area - see green numbered circle). 

However the price quickly rebounded back to the upside and was able to get briefly above a swing area between 1.3924 and 1.39314. The high price reached 1.39401, but quickly moved back down and reestablish the upper swing area as resistance (see red numbered circle 9 in the chart above).

The price has now returned back to the moving averages between 1.3881 and 1.38972.  The 100 hour moving averages so far stalling the fall.  It would take a move below to open the door for further downside momentum (back toward the low for the day and lower swing area).  They moved back above the 200 hour moving average would give the control tilt to the buyers. However,price action would likely remain choppy below the upper swing area between 1.3924 and 1.39314.  

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