TECHNICAL ANALYSIS

GBPUSD wanders to another low session


Range up to 80 pips.

In a previous article, GBPUSD hit a new low and extended the trading range to around 55 pips. This lower stroll continued with a range of up to 80 pips. The 22 day average is still higher at 145 pips, but the sellers have lowered the pair slightly.

Range up to 80 pips.

Remember, the day’s high stalled a few pips off last week’s high, creating a nice double high in the 1.3700-1.37028 area.

As previously stated, the 1.36187 to 1.36349 area was the next swing area to come down. The low has so far tested the lower end of this area (the low is 1.36203 so far). The next target is the 200 hour MA at 1.35969. Below is the 100 hour MA at 1.35762.
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