GBPUSD tests the 1.2916 level again
The GBPUSD nearly completed the lap back higher falling a few pips short. The level is not only the highs for the day, but it also is near the 50% midpoint of the years trading range (see earlier post). As a result the market is taking a little breather ahead of the levels.
It will take a break above to continue the corrective move.
ON the downside, the 200 bar MA and the 100 bar MA (yellow area) will now be levels to eye for potential support.
The traders have made its way through some hurdles but the 1.2916 area remains a level that needs to be breached. The battle is on.
