200 hour MA has stalled the fall twice in the last 5 days.
The GBPUSD fell below the 100 bar MA on the 4-hour chart, a trend line at 1.26706,, but could not get below the last hurdle of the three at the 200 hour MA. The 200 hour MA stalled the fall on June 21 too. So the last two tests have found buyers. Store that nugget away. A move below willl be more bearish.
That 200 hour MA is still in play.
The correction moved up to 1.2680 on the correction but is now at 1.2671. That kept the pair in the red for the day. The close yesterday was at 1.2685. Stay below keeps the sellers a little more in control.
