TECHNICAL ANALYSIS

GBPUSD waffles come and go near highs


Pair remains above the 100 hour MA but below the swing zone and the upper extreme

GBPUSD comes and goes near highs, but below recent highs. The week’s high reached 1.33117. Last week’s high hit 1.33094. This double top is a key cap which, if broken, should open the door upside down. In front of the peaks is an intermediate swing zone between 1.32768 and 1.31912. The high today respected this high zone.

Pair remains above the 100 hour MA but below the swing zone and the upper extreme

On the downside, the 100 hour MA comes to 1.32444 (and rising). There is an oscillation zone between 1.3233 and 1.32444.

With the price above the 100 hour MA, the jerky tilt is technically on the rise. However, the swing zone and the double top remain obstacles to be broken.

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