And the 1.3000 level
The GBPUSD is back up testing the 100 hour MA line for the 4th time today. There were two separate tests in the London early morning session. Each failed (although one breached the level by a few pips).
Two hour ago, the pirice moved up to to MA line again, broke it by pip or too and back down. In the last hourly bar (just finished) , the price closed at the line.
The current bar is back up testing the level once again. Is the 5th time the charm? Will the buyers make a run at the 200 hour MA (green line in the chart above) at the 1.3037 level? Or will the sellers lean once again?
My inkling is a run to the 200.... Before that is the 50% at the 1.3017 level. Be aware.
