GBPUSD trades between the 100 and 200 hour MA

The tries below the 200 hour MA failed. The sellers turned to buyers.

The GBPUSD trades between the 100 and 200 hour MAs with the 100 hour MA above at 1.31931 and the rising 200 hour MA below at 1.31351 (green line).   

Recall from yesterday, after moving below the 100 hour MA (blue line), the fall took the price to the 200 hour MA. There were small looks below the MA line (7 pips at the most) but sellers could not keep momentum going.  

Eventually today, the price moved above the MA and at the same time, extended above a downward sloping trend line and a swing area around the 1.3120 level.  Sellers turned to buyers and the price moved higher.

The move higher did stall ahead of the 100 hour MA (the high reached 1.3186 with the MA at 1.3193) and currently is at 1.3153 – between the MA levels.  

Flip a coin.  It’s Friday.

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