And moves above the 100 hour MA and 200 bar MA on the 4-hour chart
The GBPUSD has moved to a new London/New York session high. In the price, the pair has moved above its 100 hour moving average and 200 bar moving average on the 4 hour chart at the 1.2296 area. The price just reached up to 1.2308
The break is a step in the bullish direction but there is further upside resistance against a topside trend line at 1.2307. Above that, the underside of a broken trend line comes in at 1.2327. The 38.2% retracement of the move down from the September 19 high comes in at 1.23475.
Close support is now at the lower moving averages at the 1.2296 area. Stay above is more bullish now. Always resistance earlier, now becomes support.