Note

GBPUSD climbs toward Friday's high

Verified Media
· Reading 994

No hourly bar closes below the 100 hour MA today keeps the buyers in control.

The GBPUSD is climbing back toward the Friday high at 1.31694. That level represents the highest level for the pair going back to March 9. The high price on that day reach 1.31996. There were other swing highs in the month of January that extended up to 1.32116 (see daily chart below.
 
GBPUSD climbs toward Friday's high
Drilling to the hourly chart, the price lows today did move below the 100 hour moving average, but momentum could not be sustained and the price rebounded back above

(no closes below the 100 hour moving average). The price also moved above a topside trend line and a swing area between 1.3104 and 1.3110. It will take a move back below that area (and the rising 100 hour moving average) to hurt the more bullish bias.

Overall buyers are in control, with the high from July 31 and even bigger resistance around the 1.3200 area (up to 1.3211) from the daily chart.  Sellers are not in control, until they can get below 1.31046 to start, and then the rising 100 hour moving average. 
 
GBPUSD climbs toward Friday's high

Reprinted from forexlive, the copyright all reserved by the original author.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

If you like, reward to support.
avatar

Hot

No older comments, be the first to grab the sofa.

login