GBPUSD trying to stay below its 200 hour moving average and topside trend line

Technical Analysis

Author: Greg Michalowski | gbpusd

Pair has traded above and below unchanged today in an up down and up session

The GBPUSD as seen the price move higher than lower and now back higher again. In the process the price has traded above and below its closing level from Friday at 1.3050. The price currently trades at 1.3065. 

Pair has traded above and below unchanged today in an up down and up session_

Technically, the pair has just tested its 200 hour moving average at 1.30752. Earlier today the price trade above and below that level but at that moving average currently also said today downward sloping trendline. That increases the levels of importance. A move above would then look toward its 100 hour moving average at 1.30968. For now, sellers are leaning against the area.

On the downside today, the low price did stall against an upward sloping trendline connecting the lows from last week from Tuesday and Friday. That level currently comes in at 1.30174. Below that is a swing area at 1.3003 to  1.3012. Below that is the swing low from Tuesday at 1.29802. Those are the next downward targets

Lots of ups and downs today in the GBPUSD, but technical levels are also in play in helping to define the range.
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