GBPUSD trades above and below 100/200 hour MAs

The GBPUSD is trading above and below the 100 and 200-hour MAs with the 100-hour MA at 1.26705 and the 200-hour MA at 1.27015. The sellers below the 100-hour MA took their shot. The buyers above the 200-hour MA took their shot. Both missed. THe price is currently trading between the two MAs now and waiting for the next shover

Stocks will be closing at the top of the hour. The bonds close at 2 PM ET as traders exit in the US for the 4th of July holiday. I would not look to trade if you don’t have to. However, as the week progresses, the MAs will become more of the technical focus for the pair.

This article was written by Greg Michalowski at Source