Moves above the 1.4011 area
The GBPUSD has moved to new session higher (EURGBP selling?).
Technically, the pair moved back above the 1.4011 level. That was swing area and also 50% from the March 8th low. Yesterday, the price moved below that level before the economic numbers, recovered and later fell below with more momentum.
The 1.3981 to 13995 area is a swing area going back to mid-March. That level was broken yesterday and failed. Today, the low respected the swing area again. That is helping the recovery.The next target is the 100 hour MA at 1.40474. The 200 hour MA comes in at 1.4066. Those are upside targets. As I type, the price has moved to the 100 hour MA and is finding some resistance.
The next target is the 100 hour MA at 1.40474. The 200 hour MA comes in at 1.4066. Those are upside targets. As I type, the 100 hour MA (blue line) is being tested and finding some sellers on the first look.