Today we are seeing the price having trouble getting and staying above the 200 hour moving average at 1.22345. Stay below keeps the sellers more in control.
There is work to do on the downside at the 100 hour moving average at 1.2200. Keeping buyers hopes alive is that the price did moved below that moving average earlier in the session and failed. So although the tilt is lower, it is contingent on getting and staying below the 100 hour moving average. Moving back above the 200 hour moving average with momentum negates the bearish tilt.
Adam has a must post on the negative rate tilt seen now in the UK. You can read it by clicking here.
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