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GBPUSD stays in the range with sellers more in control


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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.  
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