Continues the move toward the 100 hour MA
It’s late on Friday, but the GBPUSD is making a new session low after falling below trend line support near 1.2521, and a swing area at 1.25137 to 1.25215. The pair has wandered lower and now tests the 100 hour MA at 1.24809 (blue line).
It’s late on Friday, its a wander, but what the move today has done is take the price to a key, more neutral level for both buyers and sellers. Come Monday, traders will be relying on the MA as bias defining level. Move below would be more bearish. Stay above, and things are ok for longs. Move below and things get a little more bearish with trend line support targeted and the 200 hour MA at 1.24127.