High today could not extend on a breakThe GBPUSD pair has been pushed down today, due to lower salaries of employment report data. Just before the report, the pair broke over a trendy curve surface. It has also been trading at the highest level for a year, on September 13, 2016. Who looks above the trend line has failed, salary data has been lower than expectations, prices have fallen.
What to do now?
We are currently testing a downtrend of the line at 1.3233. Intraday chart review of the hourly chart. hold and shorts will probably seek to cover. Look 1.3253-60 in the correction area on a higher retracement. I want to watch it for vendors near this area (see chart 5 minutes below).
A break below and a test of 100 hours of MA (blue line on the above hourly chart) at 1.3197 will be the next target.
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