The GBPUSD opened the US session above the 200 hour MA and the simple question at that time was "Can the price stay above the 200 hour MA"?
At the time, the pair had tested the level and stayed above (see post and chart here). However, given the move above on Friday and the inability to stay above, and given some earlier fails today, another blow on a break back below, would be hard.
SO when the price moved below, and started to show more selling momentum, buyers turned to sellers. There was disappointment.
The price has rotated back down to retest the 100 hour MA at 1.32268. Earlier today, the price fell below that MA but found support buyers near 1.32201 swing level (see red numbered circles). The price is up and down today and back testing those levels. Move below and the focus will tilt toward the question "Can the price now stay below the 100 hour MA?"
Ups and downs. Can the price break and run?
