Trades back between 200 and 100 hour MA
The GBPUSD ran higher in the early NY session. Technically the pair moved above the 200 hour MA and ran higher. However, the run was less of distance run, and more of a sprint. The price came back down and ran higher again, and came back down again. It is getting me tired doing all these sprints (sprinted higher yesterday and sputtered as well).
Lots of sprints and sputters suggests that traders are nervous and non-committed. Brexit may get an extension, but the impasse among the lawmakers is still a problem.
We currently trade back between the 100 and 200 hour MA as Draghi presser continues and the EURUSD cracks lower (Just broke the 1.1254 floor area). A move below the MAs for the GBPUSD would tilt more of the technical bias lower.
