GBPUSD back above 100 and 200 hour MAs
The GBPUSD had some up and down swings last week that ending with a relatively more confined Friday with increased up and down choppiness as traders just beat up on each other. The high on Friday did stall against it's 200 hour MA (green line) which gave more of a bearish technical slant (stay below is more bearish).
Today, the price action saw the pair dip lower in the first hour of trading but reversed higher. In the early European session, the price extended above both its 100 hour moving average (blue line currently at 1.29512) and 200 hour moving average (green line currently at 1.2964), and stayed above. That tilted the bias back to the upside. The 200 hour moving average at 1.2964 is now close support. For buyers, stay above is more positive. Move below and not so good (especially if the price that moved back below the 100 hour moving average).
PS As Adam reports Frost/Barnier speaking now
