Above 200 bar MA on 4-hour and 61.8% of move down from October high
The GBPUSD is making break.
The price has just moved above the:
- 100 day MA at 1.3036
- 200 bar MA on the 4-hour chart at 1.3039, and the
- 61.8% of the move down from the October 12 high at 1.30426.
Sellers are covering above the levels. The longs will want to see those levels no hold support. A move back below will give traders cause for pause.ForexLive