Can the pair make its way to the 200 hour MA/topside trend line
The GBPUSD is back moving higher as end of week flows seem to dominate trading. The move higher has the pair moving back toward the high for NY session (at 1.2223). Above that, is the 200 hour MA (green line) and the topside channel trend line. Can we get up to that level before the close?
Look for sellers on a test. (PS it is the midpoint of the weeks trading range too).
.....UPDATE.... As soon as I posted, the price was on the way to (and through the 200 hour MA and the trend line. It could be end of week squaring up as there is no news headlines. The 1.225055 is the next target (100 hour MA and 50% retracement).