Can the 1.5382 be broken (50% retracement)
The GBPUSD has pushed higher in trading today after the move higher on Friday failed to extend above the 50% of the decline from the September high. That level comes in at 1.53821. The high on Friday extended to that level (1.53823 was my high price). The pair closed below the 200 day MA at 1.5318 ( green line in the chart above).
In today's trade, the price opened below that 200 day MA level, but moved back above the Asia-Pacific session and extended to a high of 1.53724. In the North American session, the price has dipped lower toward the 38.2 to 50% of the move up in trading today (at 1.5338 to 1.5346). If the buyers are to remain in control, look for this area to hold support. A move back above the 100 bar MA (at 1.5353) will be eyed for more bullish clues.
PS Activity is slowwwwww.... So don't expect miracles....
