GBPUSD tests support at 200 day MA and trend line

Technical Analysis

Author: Greg Michalowski | gbpusd

200 day MAat 1.2664. Trend line at 1.2657.

The GBPUSD has moved back down to test the 200 day MA at 1.26643 and the rising trend line on the hourly chart at 1.2657.   A move below will have traders looking toward the 38.2% at 1.26422. Below that is the 50% and swing high from Wednesday at 1.2615.

200 day MAat 1.2664. Trend line at 1.2657.

Hold the trend line support and the buyers are still in control as traders see what the new week will bring.  

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