GBPUSD's run to the upside stalled after break of the 200 hour MA failed

The GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term for the 2nd day in a row, tried to extend above its 200 hour MA (green line) but found willing sellers . The MA comes in at 1.31636. The high yesterday reached 1.31818. Today the high reached 1.31694 and reversed back to the downside.

Two days. Two failures = not good for the pair (to the upside that is).

The 100 hour MA comes in at 1.3127. A move below that level should increase the tilt to the downside again with a break below 1.3109 giving sellers more confidence as buyers and sellers fight in this pair.