GBPUSD dips again towards the 200 hour MA

The GBPUSD is beneath strain as soon as once more, with sellers now pushing the pair towards a vital take a look at of the 200-hour transferring common (inexperienced line), at the moment close to 1.32527. This degree marks a key battleground for short-term management. Earlier within the Asian Pacific session the worth low fell however stalled at that MA degree. That elevated the degrees significance going ahead. Transferring under could be extra bearish technically.

After the early fall at present, the bounce again rally didn’t maintain momentum above the 100-hour transferring common (blue line close to 1.3324). A better threat degree could be close to the highs from final week at 1.3293. That zone is now a transparent threat space for sellers, and any transfer again above it might weaken the bearish case.

The present draw back push now targets a cluster of help ranges:

• 1.32527: 200-hour transferring common (first key take a look at)

• 1.32017: A swing space outlined by prior resistance-turned-support

• 1.31497: The 38.2 retracement of the transfer up from the April low

Backside line:
Sellers are probing the 200-hour MA for a possible shift in momentum. Staying under 1.32922 is shut threat, adopted by the 100 hour MA at 1.33242.

This text was written by Emma Wang at www.ubaidahsan.com.



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