Tests high for the day
The GBPUSD is moving back above its 200 hour MA at 1.31092. The price moved below that MA and closed below that MA on each of the hourly bars today. The move above is showing more buying interest. Stay above is more bullish (at least for the time being).
The 100 hour MA is a target above at 1.31358.
At the lows today, the pair price stalled near the 50% of the move up from last week's low at 1.30848. There was no momentum on dips below.
For the week, the range is only 142 pips. That is 1 pip higher than the lowest range from the year back during the April 1 week. The low was on Tuesday against the 100 hour MA (at the time) at 1.30707. The high was yesterday at 1.32126. We are closer to the low for the week. If the break above the 200 hour MA fails, maybe the pair goes and tries to extend... Maybe.
