Looks toward the 200 bar MA on the 4-hour chart
The GBPUSD has moved to test the 1.3000 level. The price just ticked to 1.29982.
Looking at the 4 hour chart, the 200 bar moving average on the 4 hour chart comes in at 1.29876. That would be the next target level.
Below that the 1.2971-832 area is home to swing levels going back to the week of October 25.
Is a type, the prices are ready rebounded back up to the 1.3012 area. Support buyers against the 1.300 level are sticking a toe in the water, but will need to keep the price above the 1.3000 level to keep that idea alive
Taking a broader look at the weekly chart, the 100 week moving average comes in at 1.30352. That level is now a close resistance level for the pair. Stay below and the bears remain in control resistance.
PS... The price just cracked through the 1.3000 level and quickly traded down to test the 1.29879 level where the 200 bar moving average on the 4 hour chart is located. The low price just reached 1.2888.
