GBPUSD technical update: the Sellers remain in control, but MY support tested




100 hours of MY being testedThe GBPUSD pair fell below the trend line support, then the 100 hour MA at 1.32014. The low extended to 1.3182 but quickly rebounded back above 100 hours MA.
Looking at the 5 minute chart, you can see the pause and the quick bounce around the 100 hour MA (by superposition on the graph). In fact, the last 30 minutes have just about stopped to talk to them about MY line. That’s not going to stay. The market is taking a break.
Can’t we stay and continue the race to the bottom for the week at 1.3157, and then the 38.2% and 200 hour MAs at 1.31166 and 1.3098, respectively, or do we correct higher and test the 38.2%to 50% of the last leg down to 1.3223-35?
The seller was in control today and they remain in control. The 100-hour MA is a key test for both bulls and bears and the price has rebounded a little above the MA line, but the buyers have to show me more. If not, snacking, here, against the 100 hours of MY willingness to give and sell what they just bought.




Добавить комментарий