Trades between 38.2% and 50% of the trading range this week
The GBPUSD has moved higher with the lower dollar and is testing the 100 hour MA (blue line) at 1.3104. The pair fell below that MA on Tuesday and was pushed lower on CPI and Retail sales on Wednesday and Thursday. The low yesterday stalled after failing on a break of a lower trend line yesterday.
The pair is trading between the 38.2% and 50% of the trading range this week. The 38.2% comes in at 1.3085. That is risk for longs now.
Is the squeeze on? Watch the 1.3085. Stay above is good for more upside momentum
