Spoils the sellers party...
The GBPUSD first moved above the falling 100 bar MA, and the 50% of the move down today (see earlier post). Now the pair is working on the 100 hour MA at 1.22469 and the 200 bar MA on the 5 minute chart. A move above those levels will ruin the sellers party even more today.
There should be some sort of stall here but the waters are muddy now given the price action in the pair.
PS. the price could not get back below the 200 hour MA on the downside (from previous post "Stay above and the dip buyers are still engaged. ". That helped discourage the sellers too.....
