GBPUSD trades below 100 hour MA. Sellers trying to make a play

Name: GBPUSD trades below 100 hour MA. Sellers trying to make a play
Uploaded: 2023-06-20T16:57:54.000Z
Description: The 100 hour MA and the 61.8% of the range since 2021 high both ome in near 1.2760 area. Key barometer for the pair going forward.

The 100 hour MA and the 61.8 off the daily chart both near 1.2760 area

Greg Michalowski

Watch the 1.2760 level in the GBPUSD .

On the daily chart, the 61.8% retracement of 2021 high comes in at 1.27605.
On the hourly chart, the 100-hour moving average comes in at 1.27598.

Both those technical levels suggest that sellers are trying to make a play. If the price can stay below those levels, the sellers remain in control and we could see further probing to the downside with the support near 1.2667 – 1.2679. The rising 200-hour moving average is just below those levels at 1.26619.