The 100 week MA is at 1.3035 area
If we surveyed 100 traders a week ago and asked them would the pair close higher or lower from the previous week, I bet given the landslide victory from the Tories, the price would have squeezed higher. That has not to be (at least so far).
The price of the GBPUSD close at 1.3145 area on Friday. It is currently trading at 1.3048.
The run lower this week has taken the price back below a broken trend line at 1.3133 on the weekly chart, and the 200 week moving average at 1.30852.
Today, the price extended below its 100 week moving average at 1.30352. The low for the day reached 1.30225. We currently trade just above that 100 week moving average. Last week the low price stalled at the 100 week moving average.
So I consider it a key level for today and into tomorrow's trade as the we comes to close.
