The GBPUSD has moved to a brand new low and is again firmly in the course of the previous vary between 1.2593 and 1.2800. On the highs right now, the worth stalled close to 1.2800 after which reversed and moved decrease helped by the BOE charge choice and dovish shift. Stronger US statistics additionally gave the sellers ammunition for the draw back.
Technically, the pair is again beneath the 100 bar MA on the 4-hour chart and the 200 bar MA on the identical chart. The 100-day MA is being approached at 1.2626. The 200 day MA is at 1.2593 – proper on the low of the “previous vary” between 1.2593 and 1.2800. If the momentum does proceed, that 1.2593 will probably be a key barometer or each consumers and sellers.
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