Published On: Fri, Oct 12th, 2018

GBPUSD not bouncing. 100 hour MA keeping a lid on the pair.

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Sellers looking for a little more before the week is over.


The GBPUSD fell below the 100 hour MA a few hours ago and London traders have exited without buyers coming in.  The price remains below the MA line and although the downside is not great below, it seems that the market sellers might look for a little more before the weekend. The 38.2% of the move up comes in at 1.31287. The high from October 8 comes in at 1.31326. A trend line cuts across near that area.  That area might be tested before the day is up if the price can keep the lid on at the 100 hour MA. 
ForexLive



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