GBPUSD trades below 100 hour MA. Sellers trying to make a play

Watch the 1.2760 level in the GBPUSD.

  • On the daily chart, the 61.8% retracement of 2021 high comes in at 1.27605.
  • On the hourly chart, the 100-hour moving average comes in at 1.27598.

Both those technical levels suggest that sellers are trying to make a play. If the price can stay below those levels, the sellers remain in control and we could see further probing to the downside with the support near 1.2667 – 1.2679. The rising 200-hour moving average is just below those levels at 1.26619.

This article was written by Greg Michalowski at Source