GBPUSD trades to a new day high. Approaches 200 hour MA

Technical Analysis

Author: Greg Michalowski | gbpusd

Price has not been above 200 hour MA since May 8

The price of GBPUSD is trading to a news session high and now looks toward the 200 hour MA (green line) at 1.2753. The price has not traded above its 200 hour MA since May 8, 2019. 

Price has not been above 200 hour MA since May 8
The GBPUSD has closed lower on 13 of the last 14 trading days. Today, barring a fall into the close, the pair will have its largest up day since May 3rd. 

The EURGBP is lower and looks to tests it 100 hour MA. That pair has been higher 15 of 15 days. Today is the first down day since May 3rd. 

EURGBP first down day in 15 up days.

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