The GBPUSD keeps the run higher. Above 200 hour MA.

Technical Analysis

Author: Greg Michalowski | gbpusd

GBPUSD tests swing area and comes back off....

The GBPUSD continued the trend move higher with the pair moving away from the 50% retracement at 1.26316, the 200 hour MA at 1.26475, and was even able to get above a swing area at the 1.26614-698.  However, the spike above that last area has seen some hesitation. We are back retesting the 200 hour MA. Stay above keeps the bulls in control, and the trend intact. 

GBPUSD tests swing area and comes back off....
Drilling to the 5 minute chart the correction of the last trend leg higher has been able to stay above the 38.2-50% of the last move higher at 1.2646 to 1.2653. Stay above that area (see chart below) and the trend goes on.... Move below, muddies the water a bit for the trend at least. 

GBPUSD keeps the trend in play

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose