The 200 hour MA comes in at 1.31334. High just reached 1.3130
The GBPUSD has moved close to the 200 hour MA at 1.31334. The high just reached 1.3130. Yesterday, that MA stalled the rise. The price tumbled lower.
It is logical to expect that sellers would look to take profit against the level. With stops on a break above.
The care for sellers is that since the announcement from PM May, the price action has seen some corrective action (see 5 minute chart below), but the biggers correction was only about 38.2% of the trend move higher and stalled near the 100 hour MA at 1.3089 as well (low was 1.3084. The 38.2% is at 1.3085). So sellers might be squeezed on more upside momentum.
