200 hour MA
The market is buying dollars. It might be low liquidity. It might be real sellers on Fed-speak but the dollar buying is across the board.
The GBPUSD is not being left out. Like the EURUSD -which has move through support levels - it has reached another at the 200 hour MA at 1.3132. That level comes after breaking a pretty strong trend line at 1.3151. So although the 200 hour MA at 1.3132 is being tested, the resistance is not too far away either at 1.3151.
So support buyers may enter but be careful A move below could easily scoot another 10-20 pips just because it is Friday, sellers are in control, liquidity is light. If it breaks the 1.3116, the selling could intensify for the same reasons.
Like the EURUSD, if there is a bounce, it may go up a little but I would expect sellers to lean against the broken trend line.
PS The EURUSD just traded below the 1.1200 level. and the USDJPY is trading at a new session high at 101.88 - new highs for the day.
