100 day moving average at 1.2983 broken and tested today
The GBPUSD stays bullish with a move above its 100 day moving average increasing the upside momentum.
Looking at the hourly chart above, the price in the London session moved above that moving average level at 1.29838. The high price extended above a swing area from the February 19 and February 25 highs at 1.3017 and 1.30224, but stalled. The corrective move to the downside, however did fine support buyers ahead of the key 100 day moving average. Bullish.
The price has move back to the upside and currently trades near session highs. A momentum move above the 1.30224 would have traders looking toward the February highs in the 1.3050 to 1.3069 area.
As long as the price can remain above its 100 day moving average, the bulls/buyers remain in control.
