Shoots up on the Brexit comments
The GBPUSD shot higher on the Barnier comments.
Technically,the pair moved above the highs from last and this week at 1.2931-35 area. That is now risk for the longs (and a dip level to buy against).
The price has also breached the 200 bar MA on the 4-hour chart on the covering at 1.2963. The high reached 1.29815. ON the topside the 1.3000 and then the 50% of the move down from the July high at 1.3011 are the targets on more upside momentum.
The market is volatile. The price is currently at 1.2948 and below the 200 bar MA on the 4-hour (green line in chart above. PS it was the first break above since July 17).
Traders should now lean against the 1.2931-35 on the dip. Stay above keeps the break in play wiith the 200 bar MA and the 1.3000 and 1.3011 targets on a more bullish run.
The EURGBP has tumbled to its 200 hour MA at 0.90089 (and toward the 0.9000) and has found some support buying. The bounce has taken the price also above a broken trend line. However, the price has also broken away from the 100 hour MA at 0.90469. Sellers are taking more control, with the trend line and the 200 hour MA as hurdles to get to and through.
