NY traders not liking the pair
The GBPUSD moved above some key MAs in the London session - 200 bar MA on 4-hour chart, 100 hour MA and 200 hour MA - and the 38.2% of the move down from last weeks highs. Those breaks should have sent the pair higher. It did for a little, but those breaks failed and we are now taking apart all the gains.
The pair is testing the middle of an up and down area from trading on Monday, Tuesday and for part of today (before the rally that is). The 100 bar MA on the 4-hour chart (blue line in the chart above) is down at 1.3073. That should stall the fall. Be aware.
The dollar has been more bid across the board in the early NY trading. The USDJPY tests resistance at 103.50. The EURUSD is making new lows and looks toward the next key target at the 200 day MA at 1.11159.
