100 hour moving average comes in at 1.34129
The GBPUSD moved higher after the employment statistics earlier today, but fell short of its 200 hour moving average (see earlier post).
The price has moved lower in the New York session and in the process has been skimming along its 100 hour moving average of the last three hours of trading. That moving average currently comes in at 1.34129. The low for the day reach 1.34139.
The buyers are leaning and hoping to hold support. A break below the 100 hour moving average, and we could see stops being triggered and a further probe to the downside as the technical bias turns more negative.
The 38.2% retracement of the move down from last week's high comes in at 1.34494. That level was also the high price from yesterday's trade and also a swing low going back to November 8. Getting back above that level would give the buyers some comfort. The 200 hour moving averages currently at 1.34695 and moving lower. Getting above that moving average would also be a tilt in the bullish direction.
