There is some blood with the moves. Sellers are the winner
The GBPUSD had a wild ride of it through the BOE rate and stimulus measures announcement.
The first two minutes saw the price move to a key support target at the 1.32037-1.3210 area where the 200 hour MA and the 100 bar MA on the 4-hour chart was found.
The correction off that area took the price to 1.3261 which happens to be the 100 hour MA. Sellers were fighting the buyers between those two levels. The first brawl was on.
The lower MAs were broken (not to be visiting again) at the 1.3203 level and new ceiling was formed at the 1.3184 area and roughly between 1.3161. The 1.3161 level is the 50% of the post Brexit day range. The low did go down to 1.31548 but most activity was 1.3161 to 1.3184.
That fight was won by the sellers who took the price to the days lows at 1.31099. The price corrected off that low to the 1.3161 area again and then broken. The fight between 1.3161 and 1.3184 was restarted.
Once again, the sellers won and we are now below the 1.3161 level.
The sellers/shorts remain king of the hill as the market settles down a bit, but depending where you traded, you could have gotten bloody in the "haymakers" which were being thrown in the fights.
The 1.3116 level (low from last Thursday) followed by the 1.3046-74 area remain the next targets for the pair. The risk is back up against the low of the fight club area at 1.3161.
