48 pips for the day
The GBPUSD continues to trade in a 48 pip trading range and between technical levels (see earlier post here).
- On the topside the 100 hour MA stalled the rally yet another time in the NY session
- On the downside, the 1.27712-75 is stalling the fall over the last 3 hourly bars
We currently trade close to the lower floor as the London day moved to a close. A move below, should solicit more selling with the low from last week the key target at 1.2722.
Can sellers give a push lower? Or will the buyers continue the lean and push the price back higher? We will see. Sellers remain in control, but need that next push.