GBPUSD retests the 200 hour MA. Key level for buyers and sellers.

The GBPUSD is continuing to push higher, breaking above its 100-hour moving average (blue line on the chart above) and swing level which are both at 1.3257.

The momentum to the upside has continued to the 200-hour moving average at 1.32837. That moving average was tested on Friday’s trade, but found willing sellers after a failed break above fizzled quickly.

Move above the 200-hour moving average would give the buyers more control with a high price from Friday’s trade at 1.3223 the next target.

Later this year,
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.