TECHNICAL ANALYSIS

GBPUSD trades between 100 and 200 hours from MA


100 hours MA above at 1.2522 while 200 hours MA below at 1.2440.

The GBPUSD is trading between its 100-hour moving average above 1.25224 and the 200-hour moving average (green line) at 1.2440.

100 hours MA above at 1.2522 while 200 hours MA below at 1.2440.

The price fell below its 100-hour moving average at the start of the Asian session and was able to stay below that level. Today’s low price is 1.24561. It was still comfortably above the 200 hour moving average below. We are currently trading at 1.2496 after rising 1.25112 after the low hourly data.

1.24717-84 was a swing zone dating back to March 27. However, in the past 2 days, prices have stumbled above and below this level, with more emphasis on the moving average of 100 hours above and the moving average of 200 hours below.

The UK has extended the lockout for an additional 3 weeks. A spokesman for Boris Johnson said Brexit would stay on schedule despite pandemic obstacles.

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