GBPUSD is not closed above the 100 day moving average since September 2015
The GBPUSD has continued it's run higher and is up testing the key 100 day moving average at the 1.4439 level. The high price has printed 1.44391. The price of the GBPUSD has not close above the 100 day moving average since September 17, 2015. In the move higher today the price has moved more convincingly above the topside trend line which comes in at 1.4392 today.
The price has already corrected off the level and trades at 1.4420 currently (I cannot type that fast). Yesterday's high price came in at 1.4410. The high from Tuesday peaked at 1.4418. The correction off the peak, has come down to 1.4418. The buyers are making a play to keep control above prior highs, with risk defined against those levels (may see stops on a break below) The pay off would be a break above the 100 day MA with further stops triggered.
The battle lines are drawn with sellers defending the 100 day MA above and buyers defending the prior highs on the downside.
