Forex technical analysis: GBPUSD tests the day of the bottom. Remains below 100 hour MA today




1.33418 is the low of the week. Bottom of the trend line at 1.3317. Objectives

The pair GBPUSD has stalled at the 100 hour MA yesterday (see the blue circles 3 and 4 and the blue line in the chart above). That MY was also near the highest important corrective after «brexit» from September 2016. If you have read the post on the GBPUSD pair this week, those who swing levels have been highlighted. The stall in this area, is more bearish.
The pair is trading near the low for the day after a move higher in the early NY session. The London session low of 1.3352 was about 10 pips to the week’s lows at 1.3342. The low yesterday blocked a lower trend line. Good hold. That have led contributed to the bounce.
Now on a break of the low, the trend line will be the next key target. It happens to 1.3317 currently (and moving lower). I expect buyers to bend over for the 4th time on a test.
First of all, however, is to move below the week’s low.



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