Credit: The 200 hour MA and 38.2% attracting buyers
The GBPUSD has tested the 200 hour MA on 3 separate occasions and each time, the level level held. The 38.2% and the 1.3000 level is also in the area and has attracted traders who are leaning against the support.
Looking at the 5 minute chart, the pair remains below close from yesterday at the 1.3043 level. Most of the trading in the London session has been below that level but that is ok. The NY session has seen the 200 bar MA on the 5-minute chart (currently at 1.3028) as resistance. Get above that level and a retest of the 1.3043 close should see another test.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
