The GBPUSD trading between its 100 hour MA below and its 200 hour MAs. As a result, the technical bias is neutral in the short term.
It would now take a move above the 200-hour MA at 1.27705 to increase the bullish bias. Conversely, a move below the 100-hour MA at 1.27309 would increase the bearish bias. In between and the buyers and sellers are battling it out and awaiting the next shove outside of the moving average borderlines.
This article was written by Greg Michalowski at www.forexlive.com. Source