Earlier in the day, the MA was broken (and the 50% ) but lacked momentum.
The GBPUSD is down retesting the 100 day MA at 1.3091 area. The 50% of the move up comes in at 1.3088.
Earlier today, those levels were broken, but there was not a lot of momentum. The price rise took the price toward the broken 38.2% retracement where the upside stalled. The pair remains below the 100 and 200 hour MAs which were broken in trading yesterday.
A move below the 100 day MA should solicit more selling again. If broken traders will want to see more momentum and for the price to stay below the MA level.
Dip buyers here don’t want to see a break. As
Key intraday test (again)